HB 1118 clarifies how South Dakota handles unclaimed property by allowing the state to keep up to $50,000 in a separate trust fund to pay legitimate claims, with any remaining funds going into the general state budget. The bill also specifies that money in this trust fund can be used to cover administrative costs like selling abandoned property, mailing notices, and examining holder records. These changes streamline the process for both handling citizen claims and managing the state's unclaimed property operations.
This bill does not directly amend codified state law.
Signed by the Governor H.J. 514
Delivered to the Governor H.J. 450
Signed by the President S.J. 462
Signed by the Speaker H.J. 431
Senate Do Pass Amended Passed, YEAS 23, NAYS 10. S.J. 434
Committee on Appropriations Do Pass Passed, YEAS 7, NAYS 2.
Committee on Appropriations Scheduled for hearing
First read in Senate and referred to Senate Committee on Appropriations S.J. 387
House of Representatives Do Pass Amended Passed, YEAS 39, NAYS 30. H.J. 369
Committee on Appropriations Do Pass Amended Passed, YEAS 5, NAYS 3.
Committee on Appropriations Motion to amend
Committee on Appropriations Scheduled for hearing
Committee on Appropriations Scheduled for hearing H.J. 1
Committee on Appropriations Scheduled for hearing
Committee on Appropriations Scheduled for hearing
First read in House and referred to House Committee on Appropriations H.J. 93
Ryan Maher
Prime sponsor · Sen.
R
Tony Venhuizen
Prime sponsor · Rep.
R
Cosponsors
Do Pass Amended
Committee on Appropriations — Do Pass
Do Pass Amended
Committee on Appropriations — Do Pass Amended