SB 76 transfers unobligated funds from South Dakota's housing infrastructure fund to the revolving economic development fund. It authorizes the Board of Economic Development to provide up to $15 million in 0% interest loans to airports with scheduled air service located in metro areas with 125,000-275,000 residents (or over 275,000) as of the 2024 Census. Loans must be repaid over 20 years with the first payment due one year after funding, and must be fully funded by June 2030. The bill directly affects airports in designated metro areas seeking infrastructure improvements.
SB 204 revises loan criteria for the South Dakota Housing Infrastructure Fund. It changes the fund's distribution to allocate 50% of monies to housing infrastructure in municipalities with populations over 50,000 (previously 30%) and 50% to other areas (previously 70%). The bill also increases the maximum loan amount from one-third to one-half of a housing infrastructure project's total cost and allows up to 1% of the loan principal to cover administrative expenses. This directly affects municipalities, housing developers, and projects seeking infrastructure loans under the fund.
This bill proposes a constitutional amendment that would prohibit South Dakota governments from using eminent domain to transfer private property to private companies or non-governmental entities solely for economic development or increased tax revenue. It would require any property transfer to serve a clear public purpose, such as infrastructure or public services, rather than benefiting private interests. The amendment would apply to all state and local government actions involving property takings and must be approved by voters at the next general election. If adopted, it would change how governments can acquire property for development projects.
SB 191 removes the ability for local governments (counties or municipalities) to issue grants as part of a tax increment financing district. The bill amends South Dakota law by deleting the provision that allowed "payments and grants" to be included in "project costs" for these districts. This change specifically eliminates the authorization for governing bodies to use district funds for grants, restricting allowable uses to direct project costs like construction, bonds, or professional services. The bill affects how local governments can fund redevelopment projects within designated tax increment districts.
SB 209 authorizes local governments in South Dakota (like counties or municipalities) to create nonprofit "land banks" to address abandoned, blighted, or vacant properties. These land banks, established through a local ordinance, can acquire, manage, and develop such properties to return them to productive use - such as through redevelopment, sale, or lease. Key mechanisms include allowing land banks to sue, borrow funds, handle foreclosures, collect rent, and partner with other entities. The bill provides a clear legal framework for creating these entities but does not mandate their use or specify which properties qualify beyond the defined categories.
SB 4 revises South Dakota's rules for security deposits in rental housing, directly affecting landlords and tenants. It requires landlords to return full deposits within 21 days of lease end or provide a written explanation for withholding, limited to unpaid rent, damages beyond normal wear and tear, or costs to restore the property. Landlords must also give tenants an itemized accounting of withheld amounts within 45 days of request. Failure to comply results in forfeiting all rights to withhold the deposit and potential $200 punitive damages for bad-faith retention.
