SB 226

 26.895.21  101st Legislative Session  226
                                     2026 South Dakota Legislature
                                              Senate Bill 226
 Introduced by: Senator Schoenfish
1 An Act to increase a limit on video lottery gaming, and to deposit moneys into a new
2fund.
3 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF SOUTH DAKOTA:
4 Section 1. That a NEW SECTION be added to chapter 10-13:
5There is created in the state treasury the residential tax reduction fund.
6The Department of Revenue shall administer the fund. The purpose of the fund is
7     to provide property tax relief for owner-occupied single-family dwellings. Interest on
8     moneys credited to the fund must remain in the fund. Expenditures from the fund must
9     be budgeted through the general appropriation bill.
10 Section 2. That § 42-7A-38 be AMENDED:
1142-7A-38. A video lottery machine may not allow more than two five dollars to be
12     played on a game or award free games or credits in excess of one thousand dollars per
13     bet. The payback value of one credit shall must be at least eighty percent of the value of
14     the credit.
15 Section 3. That § 42-7A-63 be AMENDED:
1642-7A-63. The commission shall maximize revenues to the state from video
17     lottery. The state's percentage of net machine income shall be is fifty percent. The After
18     one-half of one percent of net machine income has been deposited into the video lottery
19     operating fund pursuant to § 42-7A-41.1, the state's percentage of net machine income
20     shall be directly must be deposited to the general fund, except for one-half of one percent
21     of net machine income authorized for deposit into the video lottery operating fund in an
22     amount up to one hundred sixty-five million dollars in a year.
                                                                               Underscores indicate new language.
                                                                             Overstrikes indicate deleted language.
26.895.21  2  226
1Moneys collected as the state's percentage of net machine income in excess of one
2    hundred sixty-five million dollars in a year must be deposited into the residential tax
3    reduction fund established in section 1 of this Act.
                                                                            Underscores indicate new language.
                                                                          Overstrikes indicate deleted language.