deposit certain tax revenues into a homeowner tax reduction fund.

Plain English Breakdown

Using official source text because the generated explanation was unavailable or could not be confirmed against the official bill text.

deposit certain tax revenues into a homeowner tax reduction fund.

deposit certain tax revenues into a homeowner tax reduction fund.

What This Bill Does

• deposit certain tax revenues into a homeowner tax reduction fund.
• Official keyword topics: Delayed Effective Date Fund Property Tax Retail Sales and Service Tax Tax Exemptions and Refunds Taxation Official sponsor note: Senators <a rel="noopener" href="https://sdlegislature.gov/Legislators/Profile/4741/Detail">Crabtree</a> (prime), <a rel="noopener" href="https://sdlegislature.gov/Legislators/Profile/4743/Detail">Davis</a>, <a rel="noopener" href="https://sdlegislature.gov/Legislators/Profile/4745/Detail">Deibert</a>, <a rel="noopener" href="https://sdlegislature.gov/Legislators/Profile/4765/Detail">Hulse</a>, <a rel="noopener" href="https://sdlegislature.gov/Legislators/Profile/4807/Detail">Reed</a>, <a rel="noopener" href="https://sdlegislature.gov/Legislators/Profile/4827/Detail">Vilhauer</a>, and <a rel="noopener" href="https://sdlegislature.gov/Legislators/Profile/4835/Detail">Zikmund</a> and Representative <a rel="noopener" href="https://sdlegislature.gov/Legislators/Profile/4753/Detail">Goodwin</a>

Limits and Unknowns

• This entry is temporarily using official source text because the generated explanation could not be confirmed against the official bill text during the last sync.

Official Summary Text

deposit certain tax revenues into a homeowner tax reduction fund.
Official keyword topics:
Delayed Effective Date
Fund
Property Tax
Retail Sales and Service Tax
Tax Exemptions and Refunds
Taxation
Official sponsor note: Senators <a rel="noopener" href="https://sdlegislature.gov/Legislators/Profile/4741/Detail">Crabtree</a> (prime), <a rel="noopener" href="https://sdlegislature.gov/Legislators/Profile/4743/Detail">Davis</a>, <a rel="noopener" href="https://sdlegislature.gov/Legislators/Profile/4745/Detail">Deibert</a>, <a rel="noopener" href="https://sdlegislature.gov/Legislators/Profile/4765/Detail">Hulse</a>, <a rel="noopener" href="https://sdlegislature.gov/Legislators/Profile/4807/Detail">Reed</a>, <a rel="noopener" href="https://sdlegislature.gov/Legislators/Profile/4827/Detail">Vilhauer</a>, and <a rel="noopener" href="https://sdlegislature.gov/Legislators/Profile/4835/Detail">Zikmund</a> and Representative <a rel="noopener" href="https://sdlegislature.gov/Legislators/Profile/4753/Detail">Goodwin</a>

Current Bill Text

26.197.42 101st Legislative Session 118

2026 South Dakota Legislature
Senate Bill 118
SENATE TAXATION ENGROSSED

Introduced by: Senator Crabtree

Underscores indicate new language.
Overstrikes indicate deleted language.
An Act to deposit certain tax revenues into a homeowner tax reduction fund. 1
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF SOUTH DAKOTA: 2
Section 1. That a NEW SECTION be added to chapter 10-13: 3
On or before January thirty -first of each year, the treasurer shall deposit in the 4
homeowner tax reduction fund, as created in Senate Bill 125, and enacted by the One 5
Hundred First Legislature, the greater of one hundred million dollars, or the applicable 6
percent of taxes collected in the previous year pursuant to: 7
(1) Chapter 10-45; 8
(2) Chapter 10-46; 9
(3) Chapter 10-46E; and 10
(4) Chapter 10-58. 11
If Senate Bill 125 does not become effective, the state treasurer may not transfer 12
moneys under this section. 13
For purposes of this section, "applicable percent" means three -tenths percent 14
divided by the tax rate provided for the taxes referenced in subdivisions (1) to (4), 15
inclusive, of this section, as applicable. 16
Section 2. That § 10-46-48 be AMENDED: 17
10-46-48. All revenue arising under the operation of this chapter shall 18
immediately be turned over to the state treasurer and by him credited to the general fund, 19
except as otherwise provided in section 1 of this Act. 20
Section 3. That § 10-46E-9 be AMENDED: 21
10-46E-9. The revenue from the tax imposed by this chapter shall be deposited 22
in the general fund, except as otherwise provided in section 1 of this Act. 23
26.197.42 2 118
Underscores indicate new language.
Overstrikes indicate deleted language.
Section 4. That § 10-58-5 be AMENDED: 1
10-58-5. The tax generated by this chapter must be deposited in the general fund, 2
except as otherwise provided in section 1 of this Act. 3
Section 5. This Act is effective beginning July 1, 2027. 4