The proposed bill aims to establish a property tax credit for property owners in South Dakota who incur educational expenses for children enrolled in nonpublic schools or receiving alternative instruction. The credit is applicable to taxes levied by the local school district and is available to property owners regardless of whether the child is their own. Eligible children must be between the ages of five and nineteen and enrolled in kindergarten through twelfth grade. The bill outlines specific educational expenses that qualify for the credit, including tuition, fees for sports and fine arts programs, textbooks, educational therapies, transportation services, and necessary technological devices.

To receive the property tax credit, property owners must submit an application to the county director of equalization by June 1st, including documentation of the incurred educational expenses and verification from the respective school or alternative instruction provider. The maximum credit amount is capped at either 80% of the school district taxes owed or $1,000, with additional limitations on the total credits that can be claimed for each child. The bill also mandates that property tax bills reflect any credits received and requires the Department of Revenue to establish rules for the application process and necessary documentation.