Establishes a property tax relief fund to reduce property taxes in South Dakota.

The bill creates a property tax relief fund in South Dakota to supplement property tax levies of political subdivisions, aiming to reduce property taxes on real property. The fund is administered by the Department of Revenue and consists of moneys transferred from the general fund. Interest on the fund's moneys must remain in the fund, and expenditures require a special appropriation by the Legislature. The state treasurer must transfer a portion of the annual increase in general fund moneys into the fund each year.

Establishes a property tax relief fund to reduce property taxes in South Dakota.

The bill creates a property tax relief fund in South Dakota to supplement property tax levies of political subdivisions, aiming to reduce property taxes on real property. The fund is administered by the Department of Revenue and consists of moneys transferred from the general fund. Interest on the fund's moneys must remain in the fund, and expenditures require a special appropriation by the Legislature. The state treasurer must transfer a portion of the annual increase in general fund moneys into the fund each year.