S.D. Admin. R. 74:05:11:18

Current through Register Vol. 51, page 67, December 16, 2024

Section 74:05:11:18 - Loans to disadvantaged communities

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 60 percent of the state-wide median household income of $59,896 may be awarded at zero percent interest.

23 SDR 195, effective 5/25/1997; 25 SDR 93, effective 1/9/1999; 28 SDR 95, effective 12/19/2001; 40 SDR 14, effective 7/29/2013; 49 SDR 100, effective 5/22/2023

General Authority: SDCL 46A-1-60.1 to 46A-1-60.3.

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