Signed by Governor Kristi Noem

Vote Smart's Synopsis:

Vote to concur with senate amendments and pass a bill that appropriates funding for state housing infrastructure loans and grants for improvement.

Highlights:

• Creates the South Dakota Housing Opportunity Fund, appropriating $150,000,000 from the general fund and $50,000,000 from American Rescue Plan funding to provide for the construction of new housing infrastructure (Secs. 1 & 2).

• Requires that 70% of the fund be distributed to municipalities with a population of 50,000 or less (Sec. 3).

• Prohibits a municipality with a population of more than 50,000 from receiving both a loan and a grant from the fund (Sec. 4).

Full Bill Text