S.D. Admin. R. 70:05:03:01

Current through Register Vol. 51, page 67, December 16, 2024

Section 70:05:03:01 - Definitions

Words used in this chapter mean:

(1) "Applican" a regional railroad authority created pursuant to the provisions of SDCL chapter 49-17 A;

(2) "Benefitted entity," an individual, corporation, partnership, limited liability company, or other business entity that will directly benefit from a railroad trust fund loan;

(3) "Borrower" an applicant who has been awarded a loan from the railroad trust fund;

(4) "Railroad trust fund" a special fund within the state treasury created pursuant to SDCL chapter 49-16 C;

(5) "Primary jobs" jobs that provide goods and services which are primarily exported from the state, that gain market share from imports to the state, or that meet an unmet need in the area and result in the creation of new wealth. Primary jobs are derived from businesses that bring new income into an area, stimulate other local businesses, or assist a community to diversify and stabilize its economy;

(6) "Railroad infrastructure," components of railroad track or other railroad structures, including bridges and drainage facilities;

(7) "Total project costs" the direct costs associated with the purchase of materials and services, necessary site development and improvements, construction or rehabilitation, and works necessary to the operation and protection of the project;

(8) "Rail operator" the railroad company that will provide rail service.

S.D. Admin. R. 70:05:03:01

19 SDR 107, effective 1/24/1993; 49 SDR 047, effective 11/21/2022

General Authority: SDCL 49-16C-3.

Law Implemented: SDCL 1-44-20, 49-16C-3.