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SD SB125

Bill

Official Source

Status

Engrossed

2/10/2026

Primary Sponsor

Randy Deibert

Click for details

Origin

Senate

2026 Regular Session

AI Summary

  • Creates the homeowner tax reduction fund within the state treasury to provide property tax relief for owner-occupied single-family dwellings
  • Assigns administration of the fund to the Department of Revenue
  • Requires interest earned on fund moneys to remain in the fund rather than being diverted elsewhere
  • Mandates that expenditures from the fund be budgeted through the general appropriation bill
  • Prohibits transfer of fund moneys to the general fund, protecting the dedicated purpose of the revenue

Legislative Description

Establish the homeowner tax reduction fund.

Property Tax

Last Action

House of Representatives Tabled, Passed, YEAS 64, NAYS 3. H.J. 510

3/4/2026

Committee Referrals

Taxation2/11/2026
Taxation1/26/2026

Full Bill Text

No bill text available