This bill amends South Dakota statute 3-12C-113 to update the reference to the Internal Revenue Code, ensuring it reflects the current federal law as of January 1, 2026. The change is intended to align the South Dakota Retirement System statutes with the most recent federal tax regulations, which is essential for the proper administration of the retirement system.

The specific legal language being amended is the definition of "Internal Revenue Code" or "code," which will now explicitly refer to the United States Internal Revenue Code as of the specified date. This update is crucial for maintaining compliance with federal standards and ensuring that the state's retirement system operates effectively under the latest tax laws.

Statutes affected:
Introduced, 01/06/2026: 3-12C-113
Enrolled, 02/10/2026: 3-12C-113