Establishes the South Dakota school construction fund to provide loans for school building construction and expansion.

The bill creates the South Dakota school construction fund, administered by the Department of Education, to provide loans for school building construction and expansion. The fund will receive an initial transfer of $1 from the general fund. The Department of Education will make loans at zero percent interest, with terms requiring straight and level amortization over twenty years. The fund will allocate 30% of loans for districts with 4,000 or more students and 70% for other districts.

Establishes the South Dakota school construction fund to provide loans for school building construction and expansion.

The bill creates the South Dakota school construction fund, administered by the Department of Education, to provide loans for school building construction and expansion. The fund will receive an initial transfer of $1 from the general fund. The Department of Education will make loans at zero percent interest, with terms requiring straight and level amortization over twenty years. The fund will allocate 30% of loans for districts with 4,000 or more students and 70% for other districts.