The changes here are primarily formatting and procedural: the bill moved from the House engrossed version to the enrolled (final passed) version, with a note removed indicating the bill had been extensively amended ("hoghoused"), and standard legislative signatures and certification pages added. The substantive content of the homeowner property tax reduction fund—its creation, administration, funding mechanism, and the $55,896,576 transfer—remained unchanged.
26.859.14 26.859.15 101st Legislative Session 245 2026 South Dakota Legislature Senate Bill 245 HOUSE STATE AFFAIRS ENGROSSED This bill has been extensively amended (hoghoused) and may no longer be consistent with the original intention of the sponsor. Introduced by: The Committee on State Affairs Underscores indicate new language. Overstrikes indicate deleted language. ENROLLED AN ACT ENTITLED An Act to create the homeowner property tax reduction fund, and to transfer 1 moneys to the homeowner property tax reduction fund. 2 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF SOUTH DAKOTA: 3 Section 1. That a NEW SECTION be added to chapter 10-13: 4 There is created in the state treasury the homeowner property tax reduction fund. 5 The Department of Revenue shall administer the fund. The purpose of the fund is 6 to provide property tax relief for owner-occupied single-family dwellings. Moneys in the 7 fund must be used to reduce the local effort for general education levies on owner-8 occupied owner-occupied single-family dwellings. 9 Interest on moneys credited to the fund must remain in the fund. Expenditures 10 from the fund must be budgeted through the general appropriation bill. 11 Moneys in the fund may not be transferred to the general fund. 12 Section 2. That a NEW SECTION be added to chapter 10-13: 13 The treasurer shall deposit in the homeowner property tax reduction fund 14 established in section 1 of this Act, the applicable percent of taxes collected on or after 15 August 1, 2027, pursuant to: 16 (1) Chapter 10-45; 17 (2) Chapter 10-46; 18 (3) Chapter 10-46E; and 19 (4) Chapter 10-58. 20 For purposes of this section, "applicable percent" means three-tenths percent 21 divided by the tax rate provided for the taxes referenced in subdivisions (1) to (4), 22 inclusive, of this section, as applicable. 23 Section 3. That § 10-46-48 be AMENDED: 24 26.859.14 26.859.15 2 245 Underscores indicate new language. Overstrikes indicate deleted language. SB245 ENROLLED 10-46-48. All revenue arising under the operation of this chapter shall 1 immediately be turned over to the state treasurer and by him credited to the general fund, 2 except as otherwise provided in section 2 of this Act. 3 Section 4. That § 10-46E-9 be AMENDED: 4 10-46E-9. The revenue from the tax imposed by this chapter shall be deposited 5 in the general fund, except as otherwise provided in section 2 of this Act. 6 Section 5. That § 10-58-5 be AMENDED: 7 10-58-5. The tax generated by this chapter must be deposited in the general fund, 8 except as otherwise provided in section 2 of this Act. 9 Section 6. On July 1, 2026, the state treasurer shall transfer $55,896,576 from the general 10 revenue replacement fund to the homeowner property tax reduction fund. 11 Section 7. Sections 2 to 5, inclusive, of this Act are effective beginning July 1, 2027. 12 26.859.15 3 245 SB245 ENROLLED An Act to create the homeowner property tax reduction fund, and to transfer moneys to the homeowner property tax reduction fund. I certify that the attached Act originated in the: Senate as Bill No. 245 Secretary of the Senate President of the Senate Attest: Secretary of the Senate Speaker of the House Attest: Chief Clerk of the House Senate Bill No. 245 File No. ____ Chapter No. ______ Received at this Executive Office this _____ day of _____________, 2026 at ____________M. By for the Governor The attached Act is hereby approved this ________ day of ______________, A.D., 2026 Governor STATE OF SOUTH DAKOTA, ss. Office of the Secretary of State Filed ____________, 2026 at _________ o'clock __M. Secretary of State By Asst. Secretary of State