South Dakota creates a new "property tax relief fund" that the Department of Revenue will manage to help reduce property taxes on real property across the state. Starting in 2026, the state will transfer 25 percent of any year-over-year increase in general fund money into this new fund, and the Legislature will decide how to use the accumulated money for property tax relief. The fund keeps any interest it earns, and transfers only happen when the state's general fund grows compared to the previous year.
AI-generated summary
Senate Do Pass Failed, YEAS 16, NAYS 17. S.J. 360
Senate Prime Sponsor Changed at the Request of the Prime Sponsor S.J. 339
Taxation Do Pass Passed, YEAS 4, NAYS 3. S.J. 17
Taxation Scheduled for hearing
First read in Senate and referred to Senate Taxation S.J. 142
Prime sponsor · Sen
R
Dist. SD-023
cosponsor · Rep
R
Dist. HD-006
cosponsor · Rep
R
Dist. HD-003
cosponsor · Sen
R
Dist. SD-003
cosponsor · Sen
R
Dist. SD-011
cosponsor · Sen
R
Dist. SD-033
cosponsor · Rep
R
Dist. SD-014
cosponsor · Sen
R
Dist. SD-018
cosponsor · Rep
R
Dist. HD-025
Red Foster
cosponsor · Sen
D
Dist. SD-027
cosponsor · Rep
R
Dist. SD-034
Do Pass
Do Pass
Do Pass