<html xmlns="http://www.w3.org/1999/xhtml"><head><meta charset="UTF-8" /><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 11-13-1 - Definitions. </title><meta name="Generator" content="PowerTools for Open XML" /><style>span { white-space: pre-wrap; } p.s2040364Normal { text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-left: 0; margin-right: 0; margin-bottom: .001pt; } span.s2040364SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2040364CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2040364Normal-000000 { text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-left: 0; margin-right: 0; margin-bottom: .001pt; } span.s2040364DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2040364Normal-000001 { margin-left: 0.70in; text-indent: -0.45in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-right: 0; margin-bottom: .001pt; } span.s2040364000002 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2040364SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2040364SCL-000003 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } body { text-decoration-skip-ink: none; } </style></head><body><div><p dir="ltr" class="s2040364Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=11-13-1"><span class="s2040364SENU">11-13-1</span></a><span xml:space="preserve" class="s2040364SENU">. </span><span class="s2040364CL">Definitions.</span></p><p dir="ltr" class="s2040364Normal-000000"><span class="s2040364DefaultParagraphFont">Terms used in this chapter mean:</span></p><p dir="ltr" class="s2040364Normal-000001"><span class="s2040364DefaultParagraphFont">(1)    "Administering agency," the South Dakota Housing Development Authority shall act as the administrative agency for the South Dakota housing opportunity fund;</span></p><p dir="ltr" class="s2040364Normal-000001"><span class="s2040364DefaultParagraphFont">(2)    "Affordable housing," housing is affordable if the total housing costs, which includes rent, utilities, mortgage, and related expenses, represents no more than thirty percent of gross household income;</span></p><p dir="ltr" class="s2040364Normal-000001"><span class="s2040364DefaultParagraphFont">(3)    "Commissioner," a member appointed to the oversight commission;</span></p><p dir="ltr" class="s2040364Normal-000001"><span class="s2040364DefaultParagraphFont">(4)    "Fund," the South Dakota housing opportunity fund;</span></p><p dir="ltr" class="s2040364Normal-000001"><span class="s2040364DefaultParagraphFont">(5)    "Oversight commission," the commissioners that govern the South Dakota Housing Development Authority;</span></p><p dir="ltr" class="s2040364Normal-000001"><span class="s2040364DefaultParagraphFont">(6)    "Single family home," any home built to the International Residential Code (IRC) or the United States Department of Housing and Urban Development (HUD) Building Code as of January 1, 2013, and located on a suitable site that is zoned properly for an IRC or HUD single family residence.</span></p><p dir="ltr" class="s2040364Normal"><span xml:space="preserve" class="s2040364000002"> </span></p><p dir="ltr" class="s2040364Normal"><span class="s2040364SCL">Source:</span><span xml:space="preserve" class="s2040364SCL-000003"> SL 2013, ch 7, § 14, eff. Mar. 20, 2013.</span></p></div></body></html>