SDCL § 47-22-68.1: Restrictions on private foundations--Definition of terms.

Terms as used in §§ 47-22-68.1 to 47-22-68.9, inclusive, shall have the following meaning:

(1) "Excess business holdings," as defined in section 4943(c) of the Internal Revenue Code;

(2) "Internal Revenue Code," the United States Internal Revenue Code of 1954, as amended;

(3) "Private foundation," as defined in section 509(a) of the Internal Revenue Code;

(4) "Self-dealing," as defined in section 4941(d) of the Internal Revenue Code;

(5) "Taxable expenditure," as defined in section 4945(d) of the Internal Revenue Code.