South Dakota's housing infrastructure fund can now make loans to airports in cities with populations of at least 125,000 to improve or maintain airport facilities, with each loan capped at $15 million and charged at 2% annual interest. Repayments go back into the housing fund to support additional airport loans. This expands the fund's purpose beyond housing to include airport infrastructure development.
This bill does not directly amend codified state law.
The amendment fundamentally redirects the bill from transferring money between state funds to creating a new airport loan program directly from the South Dakota housing infrastructure fund, and it consolidates authority over these loans under a single "authority" rather than the Board of Economic Development. This gutting and rewrite (flagged as a "hog house" in the bill itself) substantially broadens the scope and complexity of the legislation while shifting its focus entirely from economic development fund management to dedicated airport infrastructure lending with specific terms like zero-percent interest, twenty-year amortization, and a June 30, 2030 funding deadline.
The amendment changed the interest rate on airport infrastructure loans from zero percent to <ins>two</ins> percent per year, which weakens the bill by making these loans more expensive for airport operators. This represents a substantive shift away from interest-free financing toward loans that will generate revenue for the housing infrastructure fund.
The amendment converted the bill from an engrossed (extensively amended) version to its enrolled (final passed) version, removing the legislative process markings and adding official signature pages for the Governor, Secretary of the Senate, Speaker of the House, and Secretary of State. This change does not alter the bill's substantive purpose—authorizing loans from the South Dakota housing infrastructure fund for airport infrastructure in certain metropolitan areas—but instead finalizes it for executive action.
Other amendments
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 43, NAYS 24. H.J. 527
State Affairs Do Pass Passed, YEAS 7, NAYS 6.
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 22, NAYS 11. S.J. 364
Senate Motion to amend S.J. 364
Commerce and Energy Do Pass Amended Passed, YEAS 8, NAYS 0.
Commerce and Energy Motion to amend
Commerce and Energy Scheduled for hearing
Committee on Appropriations Referred to Senate Commerce and Energy Passed, YEAS 8, NAYS 0.
Committee on Appropriations Scheduled for hearing
First read in Senate and referred to Senate Committee on Appropriations S.J. 11
Do Pass Amended
State Affairs — Do Pass
Do Pass Amended
Commerce and Energy — Do Pass Amended
Committee on Appropriations — Referred to