This bill amends existing laws regarding tax refunds for elderly individuals and persons with disabilities in South Dakota. It updates the income thresholds for single-member and multiple-member households to qualify for refunds on real property taxes. Specifically, the income limits for single-member households are adjusted from $10,038 to $10,566 for the maximum refund, and from $16,038 to $16,566 for no refund eligibility. For multiple-member households, the income limits are similarly raised from $15,392 to $16,184 for the maximum refund, and from $21,692 to $22,484 for no refund eligibility.

Additionally, the bill appropriates $425,000 from the general fund to the Department of Revenue to facilitate these refunds, with up to $20,000 allocated for administrative costs. It also establishes that any unspent funds by June 30, 2026, will revert according to existing procedures. The bill declares an emergency, allowing it to take effect immediately upon passage and approval, emphasizing its importance for the support of state government and public institutions.

Statutes affected:
Introduced, 01/08/2025: 10-18A-5, 10-18A-6, 10-45A-5, 10-45A-6