Gov. Kristi Noem signed SB 41, which frees up $200 million in housing infrastructure investment, into law.
“We are thankful that this bill has been revised so that these dollars can now be deployed. 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,” said Governor Kristi Noem. “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.”
Due to the bill’s emergency clause, this funding is available immediately, which allows it to be sent out prior to this year’s construction season.
In 2022, Governor Noem signed HB 1033 into law. At the time, she identified technical issues with the bill that would prevent the $200 million investment from being deployed. SB 41 fixes these technical issues.
South Dakota currently ranks 2nd among the 50 states in new housing development over the past 12 months, according to the United States Census Bureau.