Establishes the water infrastructure development fund for rural water projects in South Dakota.

South Dakota SB231 creates the water infrastructure development fund, which will receive appropriations, federal grants, and interest on investments. The fund will provide grants and loans for rural water projects, with grants not exceeding ten percent of the construction cost and loans not exceeding fifty percent. The Board of Water and Natural Resources will establish criteria for project selection and loan terms. The state treasurer will transfer $3,000,000 from the general fund to the new fund.

Establishes the water infrastructure development fund for rural water projects in South Dakota.

South Dakota SB231 creates the water infrastructure development fund, which will receive appropriations, federal grants, and interest on investments. The fund will provide grants and loans for rural water projects, with grants not exceeding ten percent of the construction cost and loans not exceeding fifty percent. The Board of Water and Natural Resources will establish criteria for project selection and loan terms. The state treasurer will transfer $3,000,000 from the general fund to the new fund.