This bill amends South Dakota law to impose a ten percent gross receipts tax on all sales of advertising services related to drugs, as defined in existing legislation. The revenue generated from this tax will be directed to a newly established Property Tax Reduction Fund, which aims to provide property tax credits to real property owners in the state. The bill also revises the list of services exempt from taxation, removing certain categories while adding new ones, including health, educational, social, agricultural, and various transportation services.

Additionally, the bill creates the Property Tax Reduction Fund within the state treasury, which will consist of the funds collected from the new advertising services tax, as well as any other donations or appropriations made for this purpose. The state treasurer is designated to administer this fund, ensuring that the proceeds are utilized to supplement property tax revenues and alleviate the tax burden on property owners across South Dakota.

Statutes affected:
Introduced, 01/30/2025: 10-45-12.1