PIERRE, S.D. – How do you spend $200 million in state and federal tax dollars and make everyone happy?
That’s the question members of the House of Representatives face with Senate Bill 41.
The House of Representatives debated the Senate-passed measure for over a half hour this afternoon (Friday) before deciding to defer the measure again.
The bill is now on the House calendar for Monday(Jan. 23).
Supporters say the $150 million in state funds and $50 million in federal American Rescue Plan Act funds is already delayed a year from being implemented in loans and grants to communities for more housing.
Opponents say all South Dakota taxpayers should get benefit from the funds.
They say only a few large building contractors will benefit from the cheaper 2% loan rate.
Opponents also say the measure would create ongoing expenses through a state-owned private bank, new employees, and other ongoing costs.
Supporters say the bill will provide all communities that need housing money an opportunity to obtain loans and grants, thus helping workforce development and economic development.
An attempt to amend the bill to distribute the money to counties failed.
A motion to defer the measure to Monday passed.
