SD SB96

Counties may impose a gross receipts tax up to 0.5% on sales of tangible personal property, electronically transferred products, and services taxable under state sales and use tax law

All tax proceeds must be deposited into a county property tax reduction fund and applied as credits against county property taxes for owner-occupied properties first, then agricultural and nonagricultural properties if funds remain

Counties may use up to 2% of collected funds for administrative costs in the first year, and up to $20,000 annually thereafter

Tax ordinances may be adopted by county governing bodies or through voter initiative, and can be referred to voters for approval; new taxes take effect only on January 1 or July 1 following 90 days' notice to the Department of Revenue

Property tax bills starting in 2028 must display any credits received from the gross receipts tax program