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January15

Latest revenue report accounts for revised budget figures

South Dakota’s latest revenue report accounts for revisions to Fiscal Year 2018 budget.   At his December budget address, Gov. Dennis Daugaard proposed revenue figures for the FY18 budget at $20.3 million lower than the figures adopted by the legislature during the 2017 session.   The figures presented during the budget address resulted in a
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December22

Collections well below projections in latest revenue report

South Dakota’s avoided the worst of winter’s coldest weather, thus far, but the state’s revenue collection last month was below zero, per se.   November’s reported revenue collections came in lower than any other month thus far in fiscal year 2018 with actual collections coming in nearly $17 million lower than the projection adopted by
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December07

Declining revenue collection results in no proposed inflationary increase for K-12

Due declining revenue in South Dakota, Gov. Dennis Daugaard proposed no inflationary increase for K-12 education for fiscal year 2019 during his budget address on Tuesday (12/5).   “I cannot recommend inflationary increases, at all,” Gov. Daugaard said, adding that funding for education for the 2018-19 school year will be “tied to increasing student enrollment”
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November09

Revenue figures dip in October

South Dakota grabbed a rebound in revenue numbers in September, but saw the figures tipped out of bounds in October.   October’s revenue figures came in nearly $5.6 million lower than the figure set by legislative projections adopted earlier this year. October’s loss comes on the heels of last month’s $3.5 million uptick on projections.
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October06

Revenue numbers rebound in September

State revenue numbers rebounded in September despite sales tax figures coming in under projection for the second consecutive month.   Total revenue figures for the month of September in South Dakota were $3.5 million higher for the month than those adopted by the legislature earlier this year. Sale tax figures, however, came in under projection
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April28

Revenue collection remains major issue

Since the start of 2017 revenue reports have not been rosy.   That tepid trend continued during the April meeting of the legislature’s Executive Board. S.D. Legislative Research Council Fiscal Analyst Jeff Mehlhaff informed board members the state’s general fund revenue is down $3 million from “where we anticipated being” based on the restructured revenue estimates
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April17

Revenue collection remains behind in South Dakota

Revenue in South Dakota is not on the rise.   A recently released report by the South Dakota Bureau of Finance and Management noted general fund collections for fiscal year 2017 remain lower than expected; even after estimates were recalculated and adopted by the legislature.   Collections in March came in nearly $4 million lower
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January21

DOR discusses online sales tax revenue

Online sales tax revenue received more attention during the second week of legislative session.   The Senate Taxation committee welcomed Department of Revenue Secretary Andy Gerlach to their meeting on Wednesday (1/18) to discuss a variety of subjects that included online sales tax.   One of the first questions asked of Sec. Gerlach was about
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February02

HB 1097: Other revenue decrease bill defeated

A bill with the potential to subtract up to $400,000 in other revenue for school districts failed to find support in the House on Tuesday (2/2).   House Bill 1097, which would exempt certain taxes and fees from the gross receipts tax on telecommunications services, was defeated by Representatives on a 24-41 vote. ASBSD opposed the
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January30

HB 1097: Other revenue decrease bill passes committee

Legislative committee members approved a bill that could potentially subtract up to $400,000 from other revenue supplied to school districts on Thursday (1/28).   On an 11-4 vote, members of the House Taxation committee passed House Bill 1097, which would exempt certain taxes and fees from the gross receipts tax on telecommunications services.   South
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