The bill modifies the severance tax on gold extracted in South Dakota. It amends the existing law to impose a severance tax of one percent of the market value of gold severed by individuals in the state, replacing the previous fixed rate of four dollars per ounce.

Additionally, the bill defines "market value" as the average price of gold according to the London Bullion Market Association over the calendar quarter in which the gold is severed. This change aims to align the tax rate with current market conditions, potentially making it more equitable for those involved in gold severance.

Statutes affected:
Introduced, 12/19/2025: 10-39-43