South Dakota Republicans and Democrats have reached an agreement on a plan to bring business to the state while improving schools and infrastructure at the same time.
The bipartisan Building South Dakota plan was introduced Thursday in response to a plan rejected by voters in November.
"We are on the verge of maybe one of the more complex and important bipartisan compromises I've seen in a long, long time," Rep. Bernie Hunhoff (D) Yankton said during a joint press conference of legislative leaders.
The new plan attracts large projects to South Dakota by allowing companies to reinvest the sales tax they would have paid to the state back into their own project.
The plan also puts the construction taxes from that project into the Building South Dakota fund to pay for other areas of economic development in the state like rural housing and technical education.
"The irony is we're going to be building South Dakota with dollars that weren't even ours to begin with," Sen. Corey Brown (R) Gettysburg said.
Coming up tonight on KELOLAND News at 10, we will have more details on the proposal and also tell you why legislators will have more oversight as part of the bipartisan plan.
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