Housing

SB 76 transfers unobligated funds from South Dakota's housing infrastructure fund to the revolving economic development fund. It authorizes the Board of Economic Development to provide up to $15 million in 0% interest loans to airports with scheduled air service located in metro areas with 125,000-275,000 residents (or over 275,000) as of the 2024 Census. Loans must be repaid over 20 years with the first payment due one year after funding, and must be fully funded by June 2030. The bill directly affects airports in designated metro areas seeking infrastructure improvements.

SB 204 revises loan criteria for the South Dakota Housing Infrastructure Fund. It changes the fund's distribution to allocate 50% of monies to housing infrastructure in municipalities with populations over 50,000 (previously 30%) and 50% to other areas (previously 70%). The bill also increases the maximum loan amount from one-third to one-half of a housing infrastructure project's total cost and allows up to 1% of the loan principal to cover administrative expenses. This directly affects municipalities, housing developers, and projects seeking infrastructure loans under the fund.

HB 1113 establishes a downpayment assistance program for manufactured or mobile home buyers in South Dakota. The program provides zero-interest loans of up to $10,000 per applicant from a $5 million revolving fund in the South Dakota housing infrastructure fund. Eligibility requires household income below 120% of the state median income and purchasing a home meeting federal safety standards and local zoning requirements for single-family residences. Repayments return to the fund to support new loans, with loans secured by a second lien due upon home sale or repayment of the primary mortgage. This directly assists low-to-moderate income residents seeking to purchase qualifying manufactured or mobile homes.