Search Bills

make an appropriation to fund tax refunds for elderly persons and persons with a disability and to declare an emergency.

The state will provide $450,000 to reimburse elderly and disabled residents for real property taxes and sales taxes they've already paid, with up to $20,000 going toward administrative costs. The bill also removes a rule that previously prevented people from getting these tax refunds if they were already receiving other property tax relief, allowing eligible seniors and disabled individuals to potentially receive both benefits.

increase household income thresholds for a paraplegic tax reduction.

This bill increases the income limits for South Dakota's paraplegic property tax reduction program. Under the new thresholds, people with paraplegia can qualify for a 100% tax reduction on their home if their household income is up to $14,000 (instead of $11,670), with the income cutoffs for the 75%, 50%, and 25% reduction levels also rising accordingly. This change makes the tax break available to paraplegics with somewhat higher incomes than previously allowed.

provide a refund for the contractor's excise tax for certain residential housing projects.

South Dakota homebuilders can now get a refund of the contractor's excise tax they pay when building affordable single-family homes for eligible low-income homebuyers. The refund applies only to new homes that meet price limits set by the South Dakota Housing Development Authority and are purchased by buyers who meet the authority's income requirements.

revise certain provisions related to the partners in education tax credit program.

This bill increases the annual spending cap for the Partners in Education tax credit program from $2 million to $3.5 million per year. Companies that donate to education programs can claim tax credits against their state taxes, but the total credits available statewide are now capped at this higher amount starting in fiscal year 2023.

include certain costs as project costs for tax increment financing districts.

HB1197 expands what costs cities can pay for using tax increment financing (a tool where cities use future tax revenue growth in a district to fund improvements). The bill adds "professional service costs" like architectural, engineering, planning, and legal advice to the list of eligible expenses that can be funded through tax increment financing districts.

provide for the establishment of education savings accounts.

South Dakota creates a new education savings account program that gives money to families whose children attend private schools or receive alternative education (like homeschooling or virtual school) to cover tuition, fees, computers, tutoring, and related educational expenses. The state Department of Education will establish individual accounts for participating students and deposit funds into them annually from the state education budget.

revise certain provisions of the Higher Education Savings Plan Act.

HB1009 updates South Dakota's Higher Education Savings Plan Act by revising the definitions of key terms used in the program, including clarifying what counts as "cash" contributions and renumbering several definitions for better organization. The bill expands the definition of acceptable payment methods (such as automatic transfers, cashier's checks, and wire transfers) that can be converted to cash and deposited into education savings accounts.