This bill introduces a new section to chapter 12-27 of South Dakota law, which establishes limits on the amount of money that can be loaned to candidates or political committees. Specifically, it prohibits candidates or political committees from accepting loans from individuals if the total amount of the loan, combined with any contributions from that individual, exceeds the contribution limits set forth in sections 12-27-7 to 12-27-10.

Additionally, the bill mandates that any loan provided by an individual to a candidate or political committee will be counted as part of that individual's total contributions, ensuring that all financial support is subject to the same regulatory limits. This measure aims to enhance transparency and fairness in campaign financing by preventing circumvention of contribution limits through loans.