This bill establishes new protections for veterans seeking assistance with their benefits. It introduces several key provisions, including the requirement for service providers to disclose the terms and compensation of their services in a written agreement, which must be signed by both parties. The agreement must also clearly state that the service provider is not affiliated with the United States Department of Veterans Affairs or the South Dakota Department of Veterans Affairs, and that other organizations may offer similar services for free. Additionally, the bill prohibits service providers from charging initial or nonrefundable fees, guaranteeing outcomes, or receiving compensation for services related to claims filed within one year of active duty release unless a waiver is signed by the individual.

Furthermore, the bill mandates that individuals providing assistance must pass a background check before accessing veterans' medical or financial information. It also allows the attorney general to impose civil penalties for violations of these provisions, with penalties not exceeding five thousand dollars, which will be directed to the veterans affairs department special revenue fund. Importantly, the bill clarifies that it does not alter the requirements for agents, attorneys, or representatives accredited by the United States Department of Veterans Affairs.