SB 76

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
            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.
SB76 ENROLLED
26.567.27  3  76
An Act to authorize loans from the South Dakota housing infrastructure fund for airport
infrastructure.
                                                     Received at this Executive Office
 I certify that the attached Act originated in       this _____ day of _____________,
 the:
                                                     2026 at ____________M.
 Senate as Bill No. 76
                                                     By
                      Secretary of the Senate  for the Governor
                                                                      The attached Act is hereby
                                                                  approved this ________ day of
                      President of the Senate  ______________, A.D., 2026
 Attest:
                                                                                        Governor
                      Secretary of the Senate
                                                     STATE OF SOUTH DAKOTA,
                                                                                               ss.
                                                     Office of the Secretary of State
                         Speaker of the House
                                                                    Filed ____________, 2026
 Attest:  at _________ o'clock __M.
                     Chief Clerk of the House  Secretary of State
 Senate Bill No. 76  By
 File No. ____  Asst. Secretary of State
 Chapter No. ______
SB76 ENROLLED