revise certain criteria for loans from the South Dakota housing infrastructure fund.

More housing project costs qualify, loans capped

South Dakota Housing Infrastructure Fund loans cover installing, replacing, upgrading, or improving public infrastructure for single-family or multifamily housing. Eligible infrastructure includes rights of way, water and sewer systems, lift stations, streets, roads, bridges, curbs, gutters, sidewalks, traffic signals, and streetlights. The law adds excavation, necessary site work, soil compaction, and land purchases that support these housing projects. Infrastructure must be or will be in South Dakota and owned, maintained, or provided by a local government or federally recognized tribe. Each loan is capped at 50% of the total housing infrastructure project cost. The South Dakota Housing Development Authority can use up to 1% of the loan principal to cover loan administration expenses.