SB 204 expands the types of infrastructure projects eligible for loans from South Dakota's housing infrastructure fund to include land acquisition and site preparation work needed to support new housing developments. The bill also allows the Housing Development Authority to use up to one percent of loan amounts to cover its administrative costs for managing these loans.
The amendment removes the fund distribution percentages (which previously allocated 30% to large municipalities and 70% to other areas) and the prohibition on providing both grants and loans for the same project, while increasing the maximum loan amount from one-third to one-half of total project costs—substantially broadening access to funding by eliminating geographic restrictions and allowing larger individual loans.
The amendment increases the maximum loan amount from one-third to one-half of the total housing infrastructure project cost, which STRENGTHENS the bill by allowing the South Dakota Housing Development Authority to provide more substantial financial support for these projects. This change also converts the bill from its engrossed committee form to its final enrolled version for signature.
Signed by the Governor S.J. 549
Delivered to the Governor S.J. 520
Signed by the Speaker H.J. 553
Signed by the President S.J. 505
House of Representatives Do Pass Amended Passed, YEAS 42, NAYS 25. H.J. 528
State Affairs Do Pass Passed, YEAS 8, NAYS 5.
State Affairs Scheduled for hearing H.J. 1
House of Representatives Referred to House State Affairs H.J. 446
First Reading House H.J. 423
Senate Do Pass Amended Passed, YEAS 20, NAYS 13. S.J. 361
Commerce and Energy Do Pass Amended Passed, YEAS 7, NAYS 1.
Commerce and Energy Motion to amend
Commerce and Energy Scheduled for hearing
First read in Senate and referred to Senate Commerce and Energy S.J. 160
Prime sponsor · Sen.
R
Prime sponsor · Rep.
R
Do Pass Amended
State Affairs — Do Pass
Do Pass Amended
Commerce and Energy — Do Pass Amended