Changes to Existing Law

26.567.24 26.567.25 101st Legislative Session 76 2026 South Dakota Legislature Senate Bill 76 SENATE COMMERCE AND ENERGY ENGROSSED This bill has been extensively amended (hoghoused) and may no longer be consistent with the original intention of the sponsor. Introduced by: The Chair of the Committee on Commerce and Energy at the request of the Governor Underscores indicate new language. Overstrikes indicate deleted language. An Act to transfer moneys from the housing infrastructure fund to the revolving 1 economic development and initiative fund, and to authorize loans from the 2 revolving economic development and initiative South Dakota housing infrastructure fund for 1 airport infrastructure. 3 2 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF SOUTH DAKOTA: 4 3 Section 1. That § 11-15-6 be AMENDED: 4 11-15-6. The state treasurer authority shall transfer all moneys that are unobligated, as promulgate rules, pursuant to chapter 1-26, 5 of specifying the effective date criteria and process for the application, approval, and disbursement of: 6 (1) Loans and grants provided in accordance with §§ 11-15-1 to 11-15-5, inclusive, 7 and § 11-15-7; and 8 (2) Loans provided in accordance with § 11-15-8; and 9 (3) Loans provided in accordance with section 2 of this Act, Act. 10 Section 2. That a NEW SECTION be added to chapter 11-15: 11 In addition to any other loan authorized in § 11-15-2, the authority may provide 12 loans from that portion of the South Dakota housing 6 infrastructure fund fund, created in § 11-15-2 and designated for loans 11-15-2, to the revolving 7 economic development and initiative fund. 8 9 Section 2. The Board of Economic Development may provide loans from the 10 revolving economic development and initiative fund to the 13 owner or operator of an airport 11 with scheduled air service located in this state and in a 14 metropolitan statistical area with 12 an estimated annual resident population of at least one 15 hundred twenty-five thousand, 13 but no greater than two hundred seventy-five thousand, determined as of July 1, 2024, 14 by the United States Census Bureau. 15 The Board of Economic Development may provide loans from the revolving 16 economic development and initiative fund to the owner or operator of an airport with 17 scheduled air service located in this state and in a metropolitan statistical area with an 18 estimated annual resident population greater than two hundred seventy-five thousand 19 determined as of July 1, 2024, by the United States Census 16 Bureau. 20 17 Loans provided under this section may section: 18 (1) Are for the purpose of improving or maintaining airport infrastructure; 19 (2) May not exceed fifteen million dollars per recipient; and 20 (3) Are subject to the terms set forth in section 3 of this Act. 21 recipient. 22 The Board of Economic Development authority shall consider, and authorize or deny, any 23 loan requested pursuant 22 to this section at a public meeting held pursuant to chapter 1-24 25. 25 26.567.24 1-25. 23 26.567.25 2 76 Underscores indicate new language. Overstrikes indicate deleted language. All moneys received from by the authority in repayment of loans a loan made pursuant to this 1 section must be deposited in the 1 revolving economic development and initiative South Dakota housing infrastructure fund and may be used as provided in for 2 making new loans pursuant to § 1-2 16G-5. 11-15-2. 3 4 Section 3. That a NEW SECTION be added to chapter 11-15: 4 A loan made pursuant to section 2 of this Act must: 5 (1) Bear interest payable at the rate of zero percent per year; 6 (2) Be unsecured; 7 (3) Require equal annual payments based on a twenty-year amortization; 8 (4) Require that the first payment be due one year from the date of the funding of the 9 loan; and 10 (5) Be closed and funded on or before June 30, 2030. 11 12 Section 4. That a NEW SECTION be added to chapter 11-15: 12 A loan made pursuant to section 2 of this Act to a municipality is exempt 13 from the 13 provisions of chapter chapters 6-8B and chapter 9-25, but the loan is subject to the constitutional 14 limitations of municipal indebtedness. 15 A loan made pursuant to section 2 of this Act to a regional airport authority authority, created 16 pursuant to chapter 50-6A 50-6A, is exempt from the provisions of §§ 50-6A-29 to 50-6A-37, 17 inclusive. 18 19 Section 5. The Board of Economic Development may promulgate rules pursuant 20 to chapter 1-26 to establish the application process and timelines for loans made pursuant 21 to section 2 of this Act. 22

26.567.25 26.567.26 101st Legislative Session 76 2026 South Dakota Legislature Senate Bill 76 SENATE COMMERCE AND ENERGY ENGROSSED This bill has been extensively amended (hoghoused) and may no longer be consistent with the original intention of the sponsor. Introduced by: The Chair of the Committee on Commerce and Energy at the request of the Governor Underscores indicate new language. Overstrikes indicate deleted language. An Act to authorize loans from the South Dakota housing infrastructure fund for 1 airport infrastructure. 2 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF SOUTH DAKOTA: 3 Section 1. That § 11-15-6 be AMENDED: 4 11-15-6. The authority shall promulgate rules, pursuant to chapter 1-26, 5 specifying the criteria and process for the application, approval, and disbursement of: 6 (1) Loans and grants provided in accordance with §§ 11-15-1 to 11-15-5, inclusive, 7 and § 11-15-7; and 8 (2) Loans provided in accordance with § 11-15-8; and 9 (3) Loans provided in accordance with section 2 of this Act. 10 Section 2. That a NEW SECTION be added to chapter 11-15: 11 In addition to any other loan authorized in § 11-15-2, the authority may provide 12 loans from the South Dakota housing infrastructure fund, created in § 11-15-2, to the 13 owner or operator of an airport with scheduled air service located in this state and in a 14 metropolitan statistical area with an estimated annual resident population of at least one 15 hundred twenty-five thousand, determined as of July 1, 2024, by the United States Census 16 Bureau. 17 Loans provided under this section: 18 (1) Are for the purpose of improving or maintaining airport infrastructure; 19 (2) May not exceed fifteen million dollars per recipient; and 20 (3) Are subject to the terms set forth in section 3 of this Act. 21 The authority shall consider, and authorize or deny, any loan requested pursuant 22 to this section at a public meeting held pursuant to chapter 1-25. 23 26.567.25 26.567.26 2 76 Underscores indicate new language. Overstrikes indicate deleted language. All moneys received by the authority in repayment of a loan made pursuant to this 1 section must be deposited in the South Dakota housing infrastructure fund and used for 2 making new loans pursuant to § 11-15-2. 3 Section 3. That a NEW SECTION be added to chapter 11-15: 4 A loan made pursuant to section 2 of this Act must: 5 (1) Bear interest payable at the rate of zero two percent per year; 6 (2) Be unsecured; 7 (3) Require equal annual payments based on a twenty-year amortization; 8 (4) Require that the first payment be due one year from the date of the funding of the 9 loan; and 10 (5) Be closed and funded on or before June 30, 2030. 11 Section 4. That a NEW SECTION be added to chapter 11-15: 12 A loan made pursuant to section 2 of this Act to a municipality is exempt from the 13 provisions of chapters 6-8B and 9-25, but the loan is subject to the constitutional 14 limitations of municipal indebtedness. 15 A loan made pursuant to section 2 of this Act to a regional airport authority, created 16 pursuant to chapter 50-6A, is exempt from the provisions of §§ 50-6A-29 to 50-6A-37, 17 inclusive. 18

26.567.26 26.567.27 101st Legislative Session 76 2026 South Dakota Legislature Senate Bill 76 SENATE ENGROSSED This bill has been extensively amended (hoghoused) and may no longer be consistent with the original intention of the sponsor. Introduced by: The Chair of the Committee on Commerce and Energy at the request of the Governor Underscores indicate new language. Overstrikes indicate deleted language. ENROLLED AN ACT ENTITLED An Act to authorize loans from the South Dakota housing infrastructure fund for 1 airport infrastructure. 2 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF SOUTH DAKOTA: 3 Section 1. That § 11-15-6 be AMENDED: 4 11-15-6. The authority shall promulgate rules, pursuant to chapter 1-26, 5 specifying the criteria and process for the application, approval, and disbursement of: 6 (1) Loans and grants provided in accordance with §§ 11-15-1 to 11-15-5, inclusive, 7 and § 11-15-7; and 8 (2) Loans provided in accordance with § 11-15-8; and 9 (3) Loans provided in accordance with section 2 of this Act. 10 Section 2. That a NEW SECTION be added to chapter 11-15: 11 In addition to any other loan authorized in § 11-15-2, the authority may provide 12 loans from the South Dakota housing infrastructure fund, created in § 11-15-2, to the 13 owner or operator of an airport with scheduled air service located in this state and in a 14 metropolitan statistical area with an estimated annual resident population of at least one 15 hundred twenty-five thousand, determined as of July 1, 2024, by the United States Census 16 Bureau. 17 Loans provided under this section: 18 (1) Are for the purpose of improving or maintaining airport infrastructure; 19 (2) May not exceed fifteen million dollars per recipient; and 20 (3) Are subject to the terms set forth in section 3 of this Act. 21 The authority shall consider, and authorize or deny, any loan requested pursuant 22 to this section at a public meeting held pursuant to chapter 1-25. 23 26.567.26 26.567.27 2 76 Underscores indicate new language. Overstrikes indicate deleted language. SB76 ENROLLED All moneys received by the authority in repayment of a loan made pursuant to this 1 section must be deposited in the South Dakota housing infrastructure fund and used for 2 making new loans pursuant to § 11-15-2. 3 Section 3. That a NEW SECTION be added to chapter 11-15: 4 A loan made pursuant to section 2 of this Act must: 5 (1) Bear interest payable at the rate of two percent per year; 6 (2) Be unsecured; 7 (3) Require equal annual payments based on a twenty-year amortization; 8 (4) Require that the first payment be due one year from the date of the funding of the 9 loan; and 10 (5) Be closed and funded on or before June 30, 2030. 11 Section 4. That a NEW SECTION be added to chapter 11-15: 12 A loan made pursuant to section 2 of this Act to a municipality is exempt from the 13 provisions of chapters 6-8B and 9-25, but the loan is subject to the constitutional 14 limitations of municipal indebtedness. 15 A loan made pursuant to section 2 of this Act to a regional airport authority, created 16 pursuant to chapter 50-6A, is exempt from the provisions of §§ 50-6A-29 to 50-6A-37, 17 inclusive. 18 26.567.27 3 76 SB76 ENROLLED An Act to authorize loans from the South Dakota housing infrastructure fund for airport infrastructure. I certify that the attached Act originated in the: Senate as Bill No. 76 Secretary of the Senate President of the Senate Attest: Secretary of the Senate Speaker of the House Attest: Chief Clerk of the House Senate Bill No. 76 File No. ____ Chapter No. ______ Received at this Executive Office this _____ day of _____________, 2026 at ____________M. By for the Governor The attached Act is hereby approved this ________ day of ______________, A.D., 2026 Governor STATE OF SOUTH DAKOTA, ss. Office of the Secretary of State Filed ____________, 2026 at _________ o'clock __M. Secretary of State By Asst. Secretary of State