This bill amends existing laws regarding tax refunds for elderly individuals and persons with disabilities in South Dakota. Specifically, it modifies the refund amounts for both single-member and multiple-member households under sections 10-18A-5 and 10-18A-6, respectively. Additionally, it updates the income thresholds and corresponding refund amounts for claims made by single-member households in section 10-45A-5 and multiple-member households in section 10-45A-6. The new provisions establish specific income brackets that determine the amount of refund available, with higher income levels resulting in no refund.

Furthermore, 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 includes a provision that any unspent funds by June 30, 2026, will revert according to established 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
Enrolled, 02/27/2025: 10-18A-5, 10-18A-6, 10-45A-5, 10-45A-6