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• Meanwhile, Wells Fargo consolidated and moved its accounts and those from its acquisition of Wachovia into South Dakota. And Citibank moved its retail home office to the state. Its credit card operation started the banking boom when it moved here in 1980.
• The state treasurer's office is charged with trying to find the owners of unclaimed property, but when it can't, the money accumulates in the state's general fund. Because many of the account holders are from other states and countries, it's more difficult to find those owners, so much of it will stay in South Dakota, said Rich Sattgast, state treasurer.
• "They have people that live in other countries that trust American banks," he said.
• The state's chief financial officer, Jason Dilges, said the original estimate of $53.4 million in ongoing and one-time unclaimed property already has been spent, which leaves roughly $70 million for the governor and lawmakers to divvy up when the legislative session starts in January.
• He and Tony Venhuizen, spokesman for Gov. Dennis Daugaard, declined to say what the governor plans to propose for the unexpected income in his Dec. 3 budget speech. Last year, Daugaard outlined four preferable uses for such one-time revenue.
• "We should eliminate a liability, build or improve an asset, secure an asset, or endow a program for the future," he said. "We owe it to South Dakota to use the revenues we have available to improve the structural soundness of our state for future generations."
• To eliminate some of the debate about what to do with unclaimed property, the Legislature earlier this year passed a law to dedicate a certain portion toward economic development. In the budget year that starts in July, 25 percent will go into the newly created Building South Dakota Fund and in 2016, 50 percent of unclaimed property received will go toward it.
• The $70 million won't be subject to that because it came in this year.
• The South Dakota Housing Development Authority, state Department of Education and Governor's Office of Economic Development will accept applications for grants and loans and award the money.
• Gettysburg Republican Sen. Corey Brown, who sponsored the measure, said the idea was to fund economic development without relying on taxpayers. It also ensures that the state doesn't fund ongoing projects with one-time money, so if unclaimed property revenues dip or there's a large number of big payouts to owners, less would be paid out of the economic development fund, he said.
• "We made a favorable environment for the banking industry in South Dakota,

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