FOR AN ACT ENTITLED, An Act to  authorize a loan from the REDI fund for the purpose of constructing an equine processing facility.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF SOUTH DAKOTA:
     Section 1.  That chapter 1-16G be amended by adding thereto a NEW SECTION to read as follows:
     The board may make a loan not to exceed one million dollars from the revolving economic development and initiative fund to a local industrial development corporation. The local industrial development corporation shall use the loan proceeds to provide for the design, construction, completion, equipping, and maintaining of an equine processing facility to be located on state, tribal, or private lands in South Dakota, and if needed, a mutually acceptable assignment of revenues which meets all the needs of all parties involved with such a facility.