11-13-2. South Dakota housing opportunity fund created.
125 words·~1 min read·
/sd/title-11/chapter-11-13/11-13-2A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
There is hereby created the South Dakota housing opportunity fund to be administered by the South Dakota Housing Development Authority for the purpose of preserving and expanding sustainable, affordable, and safe housing that is targeted to low and moderate income families and individuals in South Dakota. The authority may accept and expend for the purposes of this chapter any funds obtained from appropriations or any other source. Any general funds appropriated to the housing opportunity program shall be transferred into the housing opportunity fund.
Disbursement of funds to the authority shall be made after South Dakota housing opportunity funds have been obligated by the oversight commission created pursuant to § 11-13-8 . Interest earned on money in the fund shall be deposited into the fund.