P - Present
E - Excused
A - Absent
Roll Call
P Rhoden, Chair
P Olson (Russell), Vice-Chair
P Johnston
P Tieszen
P Lederman
P Rave
P Brown
P Lucas
P Frerichs
OTHERS PRESENT: See Original Minutes
The meeting was called to order by Chair Larry Rhoden.
MOTION: TO APPROVE THE MINUTES OF WEDNESDAY, FEBRUARY 13, 2013
Moved by: Rave
Second by: Lucas
Action: Prevailed by voice vote.
SB 82: provide for the nonpolitical election of the secretary of state.
Presented by: Senator Stanford Adelstein
MOTION: AMEND SB 82
" Section 10. That § 12-5-21 be amended to read as follows:
12-5-21. The state convention shall nominate candidates for lieutenant governor, attorney
general, secretary of state, state auditor, state treasurer, commissioner of school and public lands,
and public utilities commissioner and in the years when a President of the United States is to be
elected, presidential electors and national committeeman and national committeewoman of the
party. ".
13-55A-1. The South Dakota Legislature finds that providing need-based financial aid to
qualified resident students in education beyond high school in South Dakota enrolled in participating
postsecondary institutions within the state is in the public interest.
Section 2. That § 13-55A-2 be amended to read as follows:
13-55A-2. Terms used in this chapter, unless the context otherwise requires, mean:
contribution and additional aid granted) at an eligible institution;
13-55A-3. A leveraging educational assistance partnership South Dakota need-based grant or
special leveraging educational assistance partnership grant may be awarded to any qualified South
Dakota resident student who is admitted and is in attendance at any eligible institution on at least
a half-time basis, and has established financial need and has received qualifying matching aid.
Section 4. That § 13-55A-4 be amended to read as follows:
13-55A-4. A participating eligible institution shall calculate the amount of award a leveraging
educational assistance partnership South Dakota need-based grant or special leveraging educational
assistance partnership grant to a qualified student for the normal academic year, or its equivalent,
from a range of not less than one five hundred dollars nor more than one two thousand dollars, and
shall make a recommendation to the executive director for his approval, disapproval or modification.
The institution making the recommendation for each leveraging educational assistance partnership
South Dakota need-based grant or special leveraging educational assistance partnership grant shall
consider any other financial assistance available to the qualified student in relation to the financial
assistance available to other qualified students attending that institution and may not exceed the
lesser of the unmet need of the qualified student or the amount of qualifying matching aid.
Section 5. That § 13-55A-5 be amended to read as follows:
13-55A-5. Each applicant, in accordance with the rules and regulations of the executive director,
shall:
determination; and
13-55A-10. If a recipient of a leveraging educational assistance partnership South Dakota need-based grant or special leveraging educational assistance partnership grant discontinues attendance
before the end of any semester, summer school sessions session, or their equivalents, the entire
amount of any refund due that student from the eligible institution on a pro rata basis, up to the
amount of any payment made under the leveraging educational assistance partnership South Dakota
need-based grants or special leveraging educational assistance partnership grant, shall be paid by
the eligible institution to the state.
Section 7. That § 13-55A-11 be amended to read as follows:
13-55A-11. The executive director shall administer this program and shall:
13-55A-12. The executive director Board of Regents is further authorized to establish a South
Dakota need-based matching program. Any postsecondary institution eligible to participate in the
program established under § 13-55A-1 may apply to the executive director once it has accumulated
funding equal to three times the total need-based award. When an award is made, the board may
distribute such monies at the rate of one dollar of the sum appropriated in this Act for every three
dollars of private funding held and allocated to need-based financial aid by the participating
institution. The Board of Regents may accept gifts, grants, and contributions, public or private, that
will facilitate the education of South Dakota students pursuant to this chapter.
13-55A-12.1. The executive director is hereby authorized to accept and expend any funds
received from federal state or private sources as provided for in this chapter, provided such
acceptance and expenditure is approved in accordance with § 4-8B-10. Expenditures authorized
under this section shall be paid out on warrants drawn by the state auditor on vouchers approved by
the executive director, or his designee.
Section 10. There is hereby appropriated from the general fund the sum of five million dollars
($5,000,000), or so much thereof as may be necessary, to the need-based grant fund established
pursuant to § 13-55A-14.
Section 11. That § 13-55A-14 be amended to read as follows:
13-55A-14. There is hereby created in the state treasury education enhancement trust fund the
South Dakota need-based grant fund in the Board of Regents for the purpose of providing grants
pursuant to this chapter to qualified students. All moneys in the South Dakota need-based grant fund
are subject to appropriation by the Legislature through the General Appropriations Act or special
appropriations acts for the need-based grant programs. Any interest earned shall be credited to the
fund. The board may accept any gifts, contributions, or funds obtained from any other source for the
purpose of carrying out the provisions of this section.
Section 12. The state treasurer shall approve vouchers and the state auditor shall draw warrants
to pay expenditures authorized by this Act.
Section 13. That § 4-5-29.2 be amended to read as follows:
4-5-29.2. Pursuant to S.D. Const., Art. XII, § 6, the state investment officer shall determine the market value of the education enhancement trust fund as of December 31, 2003, and each calendar year thereafter less the investment expenses transferred pursuant to § 4-5-30. The state investment officer shall calculate an amount equal to four percent of that market value, without invading principal, as eligible for distribution. For the purpose of this section, the term, principal, means the sum of all contributions to the fund. Beginning with the distribution in fiscal year 2008, the market value shall be determined by adding the market value of the trust fund at the end of the sixteen most recent calendar quarters as of December thirty-first, and dividing the sum by sixteen. Upon notice of that amount by the state investment officer, the state treasurer shall transfer the amount from the education enhancement trust fund to the state general fund as soon as practicable after July first of the next fiscal year. The transfer to the general fund shall be apportioned based on the relative share of the contributions made to the need-based grant program as a proportion of the total principle balance in the trust fund as earnings available for the need-based grant program. Earnings apportioned to the need-based grant fund shall be appropriated to make awards authorized by this Act.