The bill aims to update the reference to the Internal Revenue Code within the South Dakota Retirement System statutes to ensure alignment with current federal law. Specifically, it amends the definition of "Internal Revenue Code" in section 3-12C-113 to reflect the most recent version of the code as of January 1, 2026, replacing the previous reference to January 1, 2025.

This change is intended to maintain the consistency and accuracy of state law in relation to federal tax regulations, which are crucial for the administration of retirement benefits under the South Dakota Retirement System. By updating this reference, the bill ensures that the state's retirement system remains compliant with federal standards.

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