Gov. Kristi Noem signs $200 million housing infrastructure into law

Gov. Kristi Noem signed a $200 million housing infrastructure bill into law Wednesday.

Senate Bill 41 had been met with much discourse during its time in the legislature. A similar bill was proposed during the 2022 legislative session, but failed to pass, because of concerns about the wording and technical issues.

The new law creates a program that will provide loans in the sum of $100 million, and grants in the sum of $50 million for the construction of housing infrastructure. State funding will be used for the $150 million and federal funding will provide an additional $50 million to be used for grants.

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The goal of the bill was to help built infrastructure needed for workforce housing, though the actually term "workforce" is not in the bill.

An emergency clause in the bill means the funding is immediately available, which will allow it to be sent out before construction season.

"As South Dakota’s economy continues to boom, we have consistently ranked at or near the top of the country for fastest new housing development," Noem said in a press release. "However, even this impressive growth has not kept up with new residents moving into our state. This will enable us to attract even more Freedom-loving Americans to fill South Dakota’s open jobs.”

South Dakota currently ranks second among in the United State for new housing development over the past 12 months, according to the United States Census Bureau.

This article originally appeared on Sioux Falls Argus Leader: Gov. Kristi Noem signs $200 million housing bill into law