SDCL § 10-13-47: Homeowner property tax reduction fund--Administration--Purpose--Expenditures.

There is created in the state treasury the homeowner property tax reduction fund.

The Department of Revenue shall administer the fund. The purpose of the fund is to provide property tax relief for owner-occupied single-family dwellings. Moneys in the fund must be used to reduce the local effort for general education levies on owner-occupied single-family dwellings.

Interest on moneys credited to the fund must remain in the fund. Expenditures from the fund must be budgeted through the general appropriation bill.

Moneys in the fund may not be transferred to the general fund.