2016 South Dakota Codified Laws
Title 12 - ELECTIONS
Chapter 28 - Government Accountability and Anti-Corruption
§ 12-28-14 Democracy credit fund created.

12-28-14. Democracy credit fund created. There is hereby created the "democracy credit fund," a special, dedicated, non-lapsing fund. Moneys appropriated, deposited, or paid into this fund may not lapse at any time or be transferred to any other fund, except as provided in this section. Any money in the fund is continuously appropriated to the ethics commission for expenditure in accordance with the provisions of this chapter, including for the purposes of:

(1) Providing funds to the election campaigns of participating candidates in exchange for redeemed democracy credits, pursuant to this chapter; and

(2) Paying for the administrative and enforcement costs of the ethics commission and other state staff or vendors related to the administration of the South Dakota Democracy Credit Program, pursuant to this chapter.

The sources of revenue to be deposited in the democracy credit fund shall include, without limitation: unspent democracy credit contributions received by any participating candidate who does not remain a candidate until the election for which the funds were distributed, or such funds that remain unspent by a participating candidate following the date of the election for which the funds were distributed; voluntary donations made directly to the democracy credit fund; other funds appropriated by the state; any interest generated by the democracy credit fund; and any other sources of revenue determined as necessary by the state.

The total amount of revenue in the democracy credit fund may not exceed at any time twelve million dollars. Any amount exceeding this limit that would otherwise be deposited in the democracy credit fund shall instead be deposited in the state general fund.

Source: Initiated Measure 22, § 42, eff. Nov. 16, 2016.