Read the full stored bill text
26.567.27 101st Legislative Session 76
2026 South Dakota Legislature
Senate Bill 76
ENROLLED
AN ACT
ENTITLED An Act to authorize loans from the South Dakota housing infrastructure
fund for airport infrastructure.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF SOUTH DAKOTA:
Section 1. That § 11-15-6 be AMENDED:
11-15-6. The authority shall promulgate rules, pursuant to chapter 1-26,
specifying the criteria and process for the application, approval, and disbursement of:
(1) Loans and grants provided in accordance with §§ 11-15-1 to 11-15-5, inclusive,
and § 11-15-7;
(2) Loans provided in accordance with § 11-15-8; and
(3) Loans provided in accordance with section 2 of this Act.
Section 2. That a NEW SECTION be added to chapter 11-15:
In addition to any other loan authorized in § 11-15-2, the authority may provide
loans from the South Dakota housing infrastructure fund, created in § 11-15-2, to the
owner or operator of an airport with scheduled air service located in this state and in a
metropolitan statistical area with an estimated annual resident population of at least one
hundred twenty-five thousand, determined as of July 1, 2024, by the United States Census
Bureau.
Loans provided under this section:
(1) Are for the purpose of improving or maintaining airport infrastructure;
(2) May not exceed fifteen million dollars per recipient; and
(3) Are subject to the terms set forth in section 3 of this Act.
The authority shall consider, and authorize or deny, any loan requested pursuant
to this section at a public meeting held pursuant to chapter 1-25.
26.567.27 2 76
SB76 ENROLLED
All moneys received by the authority in repayment of a loan made pursuant to this
section must be deposited in the South Dakota housing infrastructure fund and used for
making new loans pursuant to § 11-15-2.
Section 3. That a NEW SECTION be added to chapter 11-15:
A loan made pursuant to section 2 of this Act must:
(1) Bear interest payable at the rate of two percent per year;
(2) Be unsecured;
(3) Require equal annual payments based on a twenty-year amortization;
(4) Require that the first payment be due one year from the date of the funding of the
loan; and
(5) Be closed and funded on or before June 30, 2030.
Section 4. That a NEW SECTION be added to chapter 11-15:
A loan made pursuant to section 2 of this Act to a municipality is exempt from the
provisions of chapters 6-8B and 9-25, but the loan is subject to the constitutional
limitations of municipal indebtedness.
A loan made pursuant to section 2 of this Act to a regional airport authority, created
pursuant to chapter 50-6A, is exempt from the provisions of §§ 50-6A-29 to 50-6A-37,
inclusive.
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