Moneys from the employer's investment in South Dakota's future fund may be awarded only to reimburse the actual cost of the research or economic development project. Before any moneys may be expended from the fund, the applicant shall sign an agreement with the Governor's Office of Economic Development. If the award from the fund exceeds one million dollars, the applicant must provide an itemized invoice of all expenditures made by the applicant required in furtherance of the project and documentation demonstrating proof of payment before any moneys may be expended from the fund. Any agreement executed pursuant to this section is open to public inspection and must be posted on the state's website.
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