The board may provide additional subsidies to disadvantaged communities in the form of principal forgiveness as provided under the Act. The board may set interest rates for disadvantaged communities below the rate set for other loan recipients. A loan for a disadvantaged community with a median household income less than sixty percent of the state-wide median household income may be awarded at zero percent interest.

Source: 23 SDR 195, effective May 25, 1997; 25 SDR 93, effective January 9, 1999; 28 SDR 95, effective December 19, 2001; 40 SDR 14, effective July 29, 2013 ; 49 SDR 100, effective May 22, 2023 .

General Authority: SDCL 46A-1-60. 2 .

Law Implemented: SDCL 46A-1-60.1 to 46A-1-60.3 ; inclusive .

Prior versions effective: 2013-07-29.