Reduces sales and use tax rates on food, increases rates for certain taxes, and creates a fund for school district capital outlay projects.

South Dakota HB1281 reduces the sales and use tax rates on food, increases rates for certain taxes, and establishes a new fund for school district capital outlay projects. The bill lowers the tax rate on food and food ingredients to zero percent, while increasing excise taxes on cigarettes, mobile telecommunications services, and other specified items. It also creates the school building construction fund, administered by the Department of School and Public Lands, to provide loans to school districts for constructing or expanding school buildings.

Reduces sales and use tax rates on food, increases rates for certain taxes, and creates a fund for school district capital outlay projects.

South Dakota HB1281 reduces the sales and use tax rates on food, increases rates for certain taxes, and establishes a new fund for school district capital outlay projects. The bill lowers the tax rate on food and food ingredients to zero percent, while increasing excise taxes on cigarettes, mobile telecommunications services, and other specified items. It also creates the school building construction fund, administered by the Department of School and Public Lands, to provide loans to school districts for constructing or expanding school buildings.