This bill introduces a new section to South Dakota's election laws that restricts the amount of money a candidate or political committee can accept as a loan from individuals or entities. Specifically, it states that a candidate or political committee cannot accept a loan if the total amount, including any contributions from the same person, exceeds the established contribution limits outlined in sections 12-27-7 to 12-27-10.

Additionally, the bill mandates that any loan provided by an individual or entity to a candidate or political committee will count towards that person's overall contribution limit. This measure aims to ensure transparency and fairness in campaign financing by preventing candidates from circumventing contribution limits through loans.