South Dakota's higher education savings plan law references federal tax rules under the Internal Revenue Code to determine how these accounts operate. This bill updates that reference to align with current federal law, ensuring the state's savings plan regulations stay consistent with the latest federal tax requirements for education accounts.
The amendment updated the Internal Revenue Code reference date in the bill from January 1, 2025 to January 1, 2026, ensuring the higher education savings plan regulations align with the most current federal tax code. This is a technical update that maintains the bill's original purpose of keeping South Dakota law synchronized with federal law.
Signed by the Governor H.J. 242
Delivered to the Governor H.J. 202
Signed by the President S.J. 165
Signed by the Speaker H.J. 185
Senate Do Pass Passed, YEAS 34, NAYS 0. S.J. 131
Education Certified uncontested, placed on consent S.J. 5
Education Do Pass Passed, YEAS 5, NAYS 0. S.J. 5
Education Scheduled for hearing S.J. 1
First read in Senate and referred to Senate Education S.J. 75
House of Representatives Do Pass Passed, YEAS 69, NAYS 0. H.J. 53
Education Certified uncontested, placed on consent
Education Do Pass Passed, YEAS 15, NAYS 0.
Education Scheduled for hearing
First read in House and referred to House Education H.J. 12
Do Pass
Education — Do Pass
Do Pass
Education — Do Pass