PIERRE, SD (Mitchell Now) — A bill aimed at tightening oversight of South Dakota’s Future Fund is done for the year after the Senate State Affairs Committee voted 5-4 on Monday to send Senate Bill 1 to the 41st legislative day, a procedural move that effectively kills it for the session.

SB 1 would have required formal rules for how Future Fund loans and grants are awarded, including application criteria and economic-impact measurements, supporters told the committee.

Supporters argued those guardrails should be written into law because executive orders can be changed by future administrations.

Opponents said Rhoden’s recent executive order already addresses transparency concerns while preserving flexibility for economic development decisions.

The committee previously deadlocked 4-4 on the measure earlier this month before voting to defer it Monday, ending its path forward this session.