An Act to expand the eligible projects for the local infrastructure improvement grant fund.

Be it enacted by the Legislature of the State of South Dakota:

Section 1. That § 1-16G-50 be AMENDED:

1-16G-50. There is hereby created in the state treasury the local infrastructure improvement grant fund. The Board of Economic Development may award grants to any political subdivision of this state, tribal government, or local development corporation from the fund to construct or reconstruct infrastructure for the purpose of serving an economic development or workforce housing project. For purposes of the local infrastructure improvement grant fund, a workforce housing project is one that is not being subsidized by federal or state programs that specifically aim to increase access to affordable housing.

The board shall consult state agencies to evaluate the feasibility and merits of the proposed infrastructure improvements. The board shall consider the funding mechanisms available to and utilized by the applicant when making a decision to award a grant. Any general funds appropriated to the local infrastructure improvement program shall be transferred into the local infrastructure improvement grant fund. Interest earned on money in the fund shall be deposited into the fund.