20:09:26:16Maturity and interest rate of housing infrastructure project loan.
Section · Administrative Rules of South Dakota · View on sdlegislature.gov ↗
The maturity of a housing infrastructure project loan may not be more than ten years from the date of loan closing, with payments amortized over not more than twenty-five years. The authority shall establish the standard interest rate for loans from time-to-time and publish the rate on the authority’s website. The interest rate may not exceed the applicable federal rate published by the Internal Revenue Service pursuant to 26 U.S.C. § 1274(d) (May 11, 2023), as of the date of the board’s approval of an application.
Source: 49 SDR 125, effective July 3, 2023; 52 SDR 10, effective August 4, 2025.
General Authority
- SDCL 11-15-6 ↗Amended by HB1113 (2026) — establish a manufactured housing downpayment assistance program.
Law Implemented
- SDCL 11-15-1 ↗Amended by SB204 (2026) — revise certain criteria for loans from the South Dakota housing infrastructure fAmended by HB1041 (2024) — modify the definition of public infrastructure to allow a federally recognized IAmended by SB93 (2024) — modify the definition of public infrastructure to allow a federally recognized I
- SDCL 11-15-5 ↗