(SB 35)
Ethanol payments, proration of payments to producers revised.
Section
1.
That
§
10-47B-162
be amended to read as follows:
10-47B-162.
A production incentive payment of twenty cents per gallon is available to ethanol
producers for ethyl alcohol which is fully distilled and produced in South Dakota. To be eligible for
this payment, the ethyl alcohol shall be denatured and subsequently blended with gasoline to create
ethanol blend. The ethyl alcohol shall be ninety-nine percent pure and shall be distilled from cereal
grains. Annual production incentive payments for any facility may not exceed one million dollars.
No facility may receive any production incentive payments in an amount greater than ten million
dollars. The cumulative annual production incentive payments made under this section may not
exceed an amount
which has been appropriated by the Legislature for this purpose and
that
has
been deposited into the ethanol fuel fund in the state treasury. Payments from the ethanol fuel fund
shall be
made on a first in time basis until the fiscal year appropriation is reached. During the month
when the appropriation limit is to be reached, all claims received by month end shall be reimbursed
proportionately on a pro-rata basis for each gallon claimed
prorated each month based on the claims
received for that month. All moneys available in the ethanol fuel fund at the end of the fiscal year
shall be prorated based upon all unpaid claims received through the end of that fiscal year
.