This bill introduces a new education tax credit for property owners in South Dakota, allowing them to receive a property tax credit based on eligible education expenses incurred for children enrolled in nonpublic schools or receiving alternative instruction. The qualifications for the children include being between the ages of five and eighteen and being enrolled in kindergarten through twelfth grade. Eligible expenses for which the credit can be claimed include tuition, fees for sports and fine arts programs, textbooks, educational therapies, transportation services, and necessary technological devices.

The bill stipulates that the property tax credit cannot exceed eighty percent of the total school district taxes owed by the property owner for that year, and the total credits for any individual child cannot exceed eighty percent of the current year's per student equivalent in the general state aid to education formula. Property owners must submit an application to the county director of equalization by January 1st, detailing the eligible expenses incurred, which must be verified by the respective schools. Additionally, the property tax bill will reflect any credits received, and the Department of Revenue is tasked with establishing rules for the application process and necessary documentation.