Bill > SB226

This bill proposes to increase the maximum amount that can be played on a video lottery machine from two dollars to five dollars per game, while also ensuring that the payback value of a credit remains at least eighty percent. Additionally, it establishes a new "residential tax reduction fund" to be administered by the Department of Revenue, with the purpose of providing property tax relief for owner-occupied single-family homes. The bill also modifies how revenue from video lottery machines is distributed: after a small portion is allocated to the video lottery operating fund, fifty percent of the net machine income will be deposited into the general fund, but only up to a limit of $165 million annually. Any net machine income collected beyond this $165 million threshold will be directed into the newly created residential tax reduction fund.

Business and Industry

https://sdlegislature.gov/#/Session/Bill/27194