Starting July 1, 2027, South Dakota will redirect a portion of income tax, corporate tax, and bank tax revenues into a new homeowner tax reduction fund instead of the general fund—specifically, the state will deposit whichever is greater: $100 million or three-tenths of a percent of the previous year's tax collections from these sources. This change only takes effect if Senate Bill 125, which creates the homeowner tax reduction fund itself, also becomes law.
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