Senate Bill 41, helping housing shortage, in process for approval
RAPID CITY, S.D. (KEVN) -The population explosion in South Dakota has led to an affordable housing crisis in the state, but a new bill passed by the senate could alleviate the shortage of housing.
“Senate Bill 41″ introduced by Republican senator Casey Crabtree could provide $150 million in state surplus and $50 million dollars in federal funding for housing infrastructure.
The money will support veteran housing, entry-level housing, and affordable housing.
“This could have a deflationary pressure on housing, If we could increase the supply of housing, it should help control housing prices because, again it kind of flips the supply and demand equation by increasing the supply,” said Executive Director Bryan Achbach for Pennington County Housing and Redevelopment Commission.
“Senate Bill 41″ passed 54 to 16 after multiple attempts to amend the bill. The final step is for governor Noem to sign the bill into law.
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