South Dakota HB1089 modifies the distribution of severance tax revenues on precious metals.

South Dakota HB1089 amends the distribution of severance tax revenues on precious metals. For businesses in operation before January 1, 1981, all revenues go to the state treasury and the general fund. For businesses operating from January 1, 1981, to June 30, 2026, 80% of revenues go to the general fund and 20% to the county. For businesses starting operations on or after July 1, 2026, 80% of revenues go to the general fund and 20% to the county. The bill also ensures that mergers or acquisitions do not affect the revenue share due to the county.

South Dakota HB1089 modifies the distribution of severance tax revenues on precious metals.

South Dakota HB1089 amends the distribution of severance tax revenues on precious metals. For businesses in operation before January 1, 1981, all revenues go to the state treasury and the general fund. For businesses operating from January 1, 1981, to June 30, 2026, 80% of revenues go to the general fund and 20% to the county. For businesses starting operations on or after July 1, 2026, 80% of revenues go to the general fund and 20% to the county. The bill also ensures that mergers or acquisitions do not affect the revenue share due to the county.