The maturity of a housing infrastructure project loan may not be more than ten years from the date of loan closing, with payments amortized over not more than twenty-five years. The authority shall establish the standard interest rate for loans from time-to-time and publish the rate on the authority’s website. The interest rate may not exceed the applicable federal rate published by the Internal Revenue Service pursuant to 26 U.S.C. § 1274(d) (May 11, 2023), as of the date of the board’s approval of an application.

Source: 49 SDR 125, effective July 3, 2023; 52 SDR 10, effective August 4, 2025 .

General Authority: SDCL 11-15-6 .

Law Implemented: SDCL 11-15-1 to 11-15-5 , inclusive .

Prior versions effective: 2023-07-03.