SD HB1113

Creates a manufactured housing downpayment assistance program administered as a revolving loan fund, with up to $5 million available from the South Dakota housing infrastructure fund

Provides loans of up to $10,000 per eligible applicant to assist with downpayments on manufactured home purchases

Limits eligibility to applicants with household income not exceeding 120% of the state area median income

Requires manufactured homes to be located in South Dakota, meet federal construction and safety standards (24 C.F.R. Part 3280), and comply with single-family residence zoning requirements

Loans carry 0% interest, are secured by a second lien on the home, and become due upon sale of the home or satisfaction of the first lien; repayments return to the fund for new loans