Starting July 1, 2027, South Dakota will redirect a portion of tax revenue from sales taxes, use taxes, and other business taxes into a new homeowner tax reduction fund instead of putting all that money in the general fund. Each year, the state treasurer must deposit whichever is greater: $100 million or a small percentage (three-tenths of one percent divided by the applicable tax rate) of the previous year's tax collections from these sources. This change only takes effect if a related bill (Senate Bill 125) also becomes law.
The amendment removed the fund creation and administration provisions, instead directing deposits to a homeowner tax reduction fund created by Senate Bill 125, and eliminated the tax source from § 32-5B-20.
Other amendments
Senate Do Pass Amended Failed, YEAS 16, NAYS 17. S.J. 375
Senate Placed on calendar pursuant to JR 6F-6 Passed, YEAS 20, NAYS 14. S.J. 271
Taxation Report out of committee without recommendation as amended
Senate Recalled from committee (Rule 7-7) Senate Taxation S.J. 245
Taxation Deferred to the 41st legislative day Passed, YEAS 4, NAYS 3. S.J. 11
Taxation Do Pass Amended Failed, YEAS 3, NAYS 4. S.J. 11
Taxation Motion to amend S.J. 10
Taxation Scheduled for hearing
First read in Senate and referred to Senate Taxation S.J. 112
Prime sponsor · Sen.
R
Do Pass Amended
Placed on calendar pursuant to JR 6F-6
Taxation — Do Pass Amended
Taxation — Deferred to the 41st legislative day