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Bill > HB1033
SD HB1033
SD HB1033Update the reference to the Internal Revenue Code to reflect current federal law for the administration of higher education savings plans.
summary
Introduced
01/13/2026
01/13/2026
In Committee
01/27/2026
01/27/2026
Crossed Over
01/20/2026
01/20/2026
Passed
02/06/2026
02/06/2026
Dead
Signed/Enacted/Adopted
02/06/2026
02/06/2026
Introduced Session
2026 Regular Session
Bill Summary
AN ACT ENTITLED An Act to update the reference to the Internal Revenue Code to reflect current federal law for the administration of higher education savings plans.
AI Summary
This bill updates the definition of the "Internal Revenue Code" within South Dakota law to reflect the most current federal tax laws for administering higher education savings plans, specifically referencing the Internal Revenue Code as of January 1, 2026. These higher education savings plans, often referred to as 529 plans, are designed to help families save for college expenses, and their administration is governed by federal tax regulations. By updating this reference, the bill ensures that South Dakota's laws governing these savings plans remain aligned with current federal requirements, which can impact how contributions, distributions, and other aspects of these accounts are treated for tax purposes.
Committee Categories
Education
Sponsors (0)
No sponsors listed
Other Sponsors (1)
State Affairs (House)
Last Action
Signed by the Governor on February 06, 2026 H.J. 242 (on 02/06/2026)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://sdlegislature.gov/#/Session/Bill/26855 |
| BillText | https://mylrc.sdlegislature.gov/api/Documents/299038.pdf |
| BillText | https://mylrc.sdlegislature.gov/api/Documents/292833.pdf |
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