• PIERRE, S.D. (AP) -- South Dakota legislators were split along party lines Thursday in a debate on how to fund a bipartisan economic development initiative created last year.
• "All of us, as the stakeholders in Building South Dakota that were here last year to work through that ordeal, we have ownership in this," said Senate Minority Leader Jason Frerichs, D-Wilmot.
• A special committee with leaders from both chambers of the Legislature passed changes to Building South Dakota's funding formula Thursday with Republican support only. The House and Senate granted final approval to the measure Thursday, with votes dividing mostly along party lines.
• "There's equal passion for Building South Dakota on both sides of the aisle," House Majority Leader David Lust said.
• The parties, however, disagreed on how to set up the funding.
• Opponents of the bill, most of whom were Democrats, doubted that the funding formula would draw in enough money to sustain the economic development initiative. But supporters argued the formula was sufficient and would protect the state's coffers during times of economic hardship.
• Building South Dakota was established last year to boost the economy with grants to education, infrastructure and housing projects. It will receive a $30 million windfall from the governor this year through a related piece of legislation.
• The $30 million will cover Building South Dakota for the next three years. After that, the program will have to draw from the fund, according to the formula.
• Every year the state will first protect a reserve coffer equal to 10 percent of the prior year's expenditures. Surplus money from the budget and cash from the property tax reduction fund go to pad the state's rainy day fund.
• If the reserve falls below 10 percent, as it did in 2008 through 2011, then no money could be put aside for Building South Dakota. But if the reserve funds exceed 10 percent, as they did in 2012, then some of that money flows to the initiative.

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