This bill changes how South Dakota taxes gold mining by replacing a flat fee with a percentage-based tax. Instead of charging miners $4 per ounce of gold, the state will now collect 1% of the market value of gold they extract, based on the average price during the quarter the gold was severed.
AI-generated summary
Taxation Deferred to the 41st legislative day Passed, YEAS 7, NAYS 0. S.J. 3
Taxation Scheduled for hearing S.J. 1
Taxation Motion to amend S.J. 1
Taxation Motion to amend S.J. 1
Taxation Scheduled for hearing
First read in Senate and referred to Senate Taxation S.J. 17
Prime sponsor · Sen
R
Dist. SD-001
Prime sponsor · Rep
D
Dist. HD-032
cosponsor · Sen
R
Dist. SD-022
cosponsor · Rep
R
Dist. HD-002
cosponsor · Rep
D
Dist. HD-026
cosponsor · Rep
D
Dist. HD-015
cosponsor · Sen
R
Dist. SD-005
cosponsor · Rep
R
Dist. SD-014
cosponsor · Sen
R
Dist. SD-007
Deferred to the 41st legislative day
Deferred to the 41st legislative day