On Mar. 18, 2025, SD LEG reported that bill SB 88 was signed by the SD governor.
On Mar. 10, SD LEG enrolled bill re exemptions for sale of homestead.
SD LEG enrolled bill SB 88 to amend Codified lawsSD LEG 43-45-3, which aims to increase the amount of exemptions when homestead is sold or divided by court order.
Exempt Proceeds
If the homestead is sold, the proceeds of the sale not exceeding the sum of $100k are absolutely exempt for a period of one year after receipt of proceeds by the owner.
The exemption is limited to $170k for a homestead of a person 70 years or older.
Also, applies to unmarried surviving spouse once home continues to be a homestead.
Legislative History
On Jan. 23, 2025, bill introduced in Senate; on Feb. 4, 2025, bill passed in Senate.
On Feb. 5, 2025, bill introduced in House; on Mar. 6, 2025, bill was passed in House.
On Mar. 10, 2025, bill was enrolled, and is pending delivery to the governor for action.
Effectiveness
SD law sets Jul. 1 as effective date of bills passed in regular session, i.e. Jul. 1, 2025.
Mar. 18, 2025 SD LEG Governor Approval
On Mar. 18, 2025, SD LEG reported that bill SB 88 was signed by the SD governor.
Regulators
SD LEG
Entity Types
CNSM; MG Orig
Reference
Act, 3/18/2025; Bill SB88, 3/10/2025; Citation: SD LEG 43-45-3;
