SB 99 creates a new fund to help replace property tax revenue by increasing sales taxes on certain goods and services, while reducing school property taxes—particularly eliminating taxes on owner-occupied homes starting in 2027. The bill modifies South Dakota's gross receipts tax and use tax rates across multiple categories to generate revenue for this replacement fund. Essentially, it shifts some school funding from property taxes to sales taxes, with homeowners seeing the biggest property tax relief.
Taxation Deferred to the 41st legislative day Passed, YEAS 6, NAYS 1. S.J. 5
Taxation Motion to amend S.J. 5
Taxation Scheduled for hearing
First read in Senate and referred to Senate Taxation S.J. 67
Prime sponsor · Sen.
R
Taxation — Deferred to the 41st legislative day