Starting July 1, 2026, South Dakota will direct severance tax revenue from new precious metals mining permits differently: 80% goes to the state general fund (same as before), but the 20% that goes to counties will now be distributed based on a new formula instead of being capped at $1 million per mining operation. This change means counties could potentially receive more long-term revenue from new mining operations that continue producing valuable metals.
AI-generated summary
Committee on Appropriations Scheduled for hearing
First read in Senate and referred to Senate Committee on Appropriations S.J. 340
House of Representatives Do Pass Passed, YEAS 65, NAYS 0. H.J. 372
Committee on Appropriations Do Pass Passed, YEAS 9, NAYS 0.
Committee on Appropriations Scheduled for hearing
House of Representatives Referred to House Committee on Appropriations H.J. 105
First Reading House H.J. 52
Prime sponsor · Rep
R
Dist. HD-031
Prime sponsor · Sen
R
Dist. SD-031
cosponsor · Rep
R
Dist. HD-031
Timothy Goodwin
cosponsor · Rep
R
Dist. HD-030
Do Pass
Do Pass
Do Pass