South Dakota Bankers Association talks impact with SB41

PIERRE, S.D.(WNAX)- While mortgage lending has slowed across the state due to rising interest rates, a state program may provide a kick.

South Dakota Bankers Association President Karl Adam says the two hundred million dollar housing bill passed by the legislature will make a difference.

Adam says the funding will help with housing developments across the state.

About sixty million dollars will go to Sioux Falls and Rapid City with other cities competing for the one hundred forty million dollars in funding.