This bill amends South Dakota law to authorize the provision of loans from the South Dakota housing infrastructure fund specifically for airport infrastructure improvements. It modifies section 11-15-6 to include loans for airport infrastructure as part of the criteria for application, approval, and disbursement of funds. A new section is added to allow loans to owners or operators of airports with scheduled air service located in metropolitan statistical areas with a population of at least 125,000, as determined by the U.S. Census Bureau as of July 1, 2024. The loans are intended for improving or maintaining airport infrastructure, with a maximum limit of $15 million per recipient.

Additionally, the bill outlines specific terms for these loans, including a 2% interest rate, unsecured status, equal annual payments based on a 20-year amortization schedule, and a requirement for the first payment to be due one year after funding. It also stipulates that loans to municipalities are exempt from certain provisions of municipal indebtedness laws, while loans to regional airport authorities are exempt from specific regulations. All repayments from these loans will be reinvested into the South Dakota housing infrastructure fund for future loans.

Statutes affected:
Senate Commerce and Energy Engrossed, 02/19/2026: 11-15-6
Senate Engrossed, 02/24/2026: 11-15-6
Enrolled, 03/09/2026: 11-15-6