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

South Dakota's property tax refund program for elderly people and people with disabilities will increase income limits and refund percentages across all income brackets. For example, the income thresholds are being raised (such as from $10,038 to $10,566 for the highest refund tier), allowing more people to qualify for refunds, and the refund percentages themselves are being increased at most income levels. The bill also appropriates state funds to cover the cost of these expanded refunds.

Provide school choice through an education tax credit.

South Dakota property owners can now receive a tax credit on their school property taxes if they pay for their children's education at private schools or through homeschooling instead of public schools. The tax credit covers tuition, fees, and educational materials, but cannot exceed the amount of school taxes owed or 80% of the state's per-student funding amount. This creates a new "school choice" option by allowing families to redirect public education funding toward private alternatives.