SDCL § 49-16B-10: Projects authority may undertake.

For the purpose of developing the resources and improving the economic facilities of the state, the authority may engage in works of internal improvement and may own and conduct proper business enterprises through:

(1) Planning, establishing, acquiring, developing, constructing, purchasing, enlarging, maintaining, equipping, and protecting railroads and railroad facilities, including railroad rolling stock. For such purposes the authority may acquire, by purchase, gift, devise, lease, or condemnation real or personal property or any interest therein;

(2) Conducting continuous studies into the need for such facilities; and

(3) Serving the Legislature by making reports and recommendations concerning the providing of such facilities.