establish a new fund to provide property tax relief.

Plain English Breakdown

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

establish a new fund to provide property tax relief.

establish a new fund to provide property tax relief.

What This Bill Does

• establish a new fund to provide property tax relief.
• Official keyword topics: Fund Property Tax Taxation Transfer of Moneys Official sponsor note: Senators <a rel="noopener" href="https://sdlegislature.gov/Legislators/Profile/4780/Detail">Lapka</a> (prime), <a rel="noopener" href="https://sdlegislature.gov/Legislators/Profile/4751/Detail">Foster</a>, <a rel="noopener" href="https://sdlegislature.gov/Legislators/Profile/4763/Detail">Howard</a>, <a rel="noopener" href="https://sdlegislature.gov/Legislators/Profile/4773/Detail">Karr</a>, <a rel="noopener" href="https://sdlegislature.gov/Legislators/Profile/4794/Detail">Nelson</a>, <a rel="noopener" href="https://sdlegislature.gov/Legislators/Profile/4800/Detail">Perry</a>, <a rel="noopener" href="https://sdlegislature.gov/Legislators/Profile/4828/Detail">Voight</a>, and <a rel="noopener" href="https://sdlegislature.gov/Legislators/Profile/4835/Detail">Zikmund</a> and Representatives <a rel="noopener" href="https://sdlegislature.gov/Legislators/Profile/4731/Detail">Andera</a>, <a rel="noopener" href="https://sdlegislature.gov/Legislators/Profile/4734/Detail">Aylward</a>, <a rel="noopener" href="https://sdlegislature.gov/Legislators/Profile/4737/Detail">Baxter</a>, <a rel="noopener" href="https://sdlegislature.gov/Legislators/Profile/4761/Detail">Heinemann</a>, and <a rel="noopener" href="https://sdlegislature.gov/Legislators/Profile/4796/Detail">Novstrup</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

establish a new fund to provide property tax relief.
Official keyword topics:
Fund
Property Tax
Taxation
Transfer of Moneys
Official sponsor note: Senators <a rel="noopener" href="https://sdlegislature.gov/Legislators/Profile/4780/Detail">Lapka</a> (prime), <a rel="noopener" href="https://sdlegislature.gov/Legislators/Profile/4751/Detail">Foster</a>, <a rel="noopener" href="https://sdlegislature.gov/Legislators/Profile/4763/Detail">Howard</a>, <a rel="noopener" href="https://sdlegislature.gov/Legislators/Profile/4773/Detail">Karr</a>, <a rel="noopener" href="https://sdlegislature.gov/Legislators/Profile/4794/Detail">Nelson</a>, <a rel="noopener" href="https://sdlegislature.gov/Legislators/Profile/4800/Detail">Perry</a>, <a rel="noopener" href="https://sdlegislature.gov/Legislators/Profile/4828/Detail">Voight</a>, and <a rel="noopener" href="https://sdlegislature.gov/Legislators/Profile/4835/Detail">Zikmund</a> and Representatives <a rel="noopener" href="https://sdlegislature.gov/Legislators/Profile/4731/Detail">Andera</a>, <a rel="noopener" href="https://sdlegislature.gov/Legislators/Profile/4734/Detail">Aylward</a>, <a rel="noopener" href="https://sdlegislature.gov/Legislators/Profile/4737/Detail">Baxter</a>, <a rel="noopener" href="https://sdlegislature.gov/Legislators/Profile/4761/Detail">Heinemann</a>, and <a rel="noopener" href="https://sdlegislature.gov/Legislators/Profile/4796/Detail">Novstrup</a>

Current Bill Text

26.298.33 101st Legislative Session 199

2026 South Dakota Legislature
Senate Bill 199

Introduced by: Senator Karr

Underscores indicate new language.
Overstrikes indicate deleted language.
An Act to establish a new fund to provide property tax relief. 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
There is created in the state treasury the property tax relief fund. The fund consists 4
of moneys transferred from the general fund pursuant to section 2 of this Act. 5
The Department of Revenue shall administer the fund. The purpose of the fund is 6
to supplement property tax levies of political subdivisions of this state to reduce property 7
taxes imposed on real property as provided for by the Legislature. Interest on moneys 8
credited to the fund must remain in the fund. Expenditures from the fund must be by a 9
special appropriation of the Legislature. 10
Section 2. That a NEW SECTION be added to chapter 10-13: 11
On or before August first of 2026, the state treasurer shall transfer from the general 12
fund into the property tax relief fund, established in section 1 of this Act, twenty -five 13
percent of the annual increase in general fund moneys in the 2026 fiscal year over the 14
2025 fiscal year. If there is no increase in the general fund moneys in the 2026 fiscal year 15
over the 2025 fiscal year, the amount deposited into the fund is zero. 16
On or before each subsequent August first, t he state treasurer shall transfer from 17
the general fund into the property tax relief fund, the sum of: 18
(1) The amount deposited into the property tax relief fund in the previous fiscal year; 19
and 20
(2) Twenty-five percent of the annual increase in general fund moneys in the previous 21
fiscal year over the fiscal year prior to the previous fiscal year. 22
If there is no increase in the general fund moneys in the previous fiscal year, the 23
amount to be deposited into the property tax relief fund is equal to subdivision (1) of this 24
section. 25