This bill establishes a tax credit for owner-occupied single-family dwellings in South Dakota, specifically for property taxes payable in 2027. It mandates that county treasurers apply a tax credit to each tax bill sent to eligible homeowners, with the credit amount being the lesser of $500 or the total property tax owed for that year. To support this initiative, the bill appropriates $101 from both the general fund and the budget reserve fund to the Department of Revenue to offset the revenue loss resulting from the tax credit.

Additionally, the bill includes provisions for the transfer of $101 from the South Dakota housing infrastructure fund to the general fund and outlines the responsibilities of the Department of Revenue in approving vouchers and the state auditor in processing payments. It also stipulates that any unspent appropriated amounts will revert according to established procedures.