This bill authorizes the South Dakota housing authority to provide loans from the housing infrastructure fund specifically to school districts that are adjacent to federal military installations. The loans are intended for the construction or expansion of school buildings and will be offered at a zero percent interest rate without requiring collateral from the school district. The maximum loan amount is capped at fifteen million dollars, with repayment structured over twenty years through annual payments, starting one year after the loan is funded.

Additionally, the bill amends existing law to include provisions for these loans and establishes that thirty percent of the funding must come from resources allocated for municipalities with populations over fifty thousand, while seventy percent will be sourced from funds available in other areas of the state. The loans will be exempt from certain existing regulations, and any repayments made will be reinvested into the housing infrastructure fund for future loans. The authority must approve these loans in a public meeting before June 30, 2029.

Statutes affected:
House Engrossed, 03/06/2025: 11-15-6
Enrolled, 03/12/2025: 11-15-6