SD HB1089

Creates a new category for precious metals severance permits issued on or after July 1, 2026, with 80% of tax revenues going to the state general fund and 20% to the county where metals were severed

Removes the $1 million cap on county payments for new permits issued after July 1, 2026, allowing counties to continue receiving their 20% share indefinitely

Maintains existing rules for pre-1981 operators (100% to state) and those permitted between 1981-2026 (80/20 split with $1 million county cap)

Protects county revenue shares from being reduced through corporate mergers, consolidations, or acquisitions

Revenues from precious metals severed on state-owned or state-controlled lands continue to go to the common school permanent fund