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SD HB1033

Bill

Official Source

Status

Passed

2/6/2026

Primary Sponsor

State Affairs

Click for details

Origin

House of Representatives

2026 Regular Session

AI Summary

  • Updates the Internal Revenue Code reference date from the previous version to January 1, 2026 for South Dakota's higher education savings program (529 plans)
  • Amends § 13-63-1 to align state law with current federal tax code provisions governing qualified tuition programs
  • Ensures state 529 plan definitions for eligible education institutions, qualified expenses, member of family, and rollover rules remain consistent with federal law
  • Applies to accounts administered by the South Dakota Investment Council and program managers

Legislative Description

Update the reference to the Internal Revenue Code to reflect current federal law for the administration of higher education savings plans.

Education

Last Action

Signed by the Governor on February 06, 2026 H.J. 242

2/6/2026

Committee Referrals

Education1/21/2026
Education1/13/2026

Full Bill Text

No bill text available