Governor Rounds Signs Bills into Law

Press Release

Governor Rounds Signs Bills into Law

Gov. Mike Rounds has signed several bills into law, including SB 148 which is an act to provide for a tax incentive for fuel blended with biodiesel.

This legislation will create a 2-cent per gallon tax break for approximately 40 million gallons of taxable diesel fuel blended with at least 5% biodiesel.

"As diesel costs continue to skyrocket, this tax break will help ease the pain at the pump for consumers while helping to develop our state's biodiesel industry," said Gov. Rounds. "Biodiesel is an ideal alternative to petroleum-based fuel. It will not reduce mileage, and because of its increased lubricity, it is better for the engine."

The tax break will be paid for by transferring $800,000 from the Petroleum Release Compensation Fund reserve to the Highway Trust Fund this year. The tax break will end in the quarter after 35 million gallons of taxed biodiesel and biodiesel blended fuel are sold after the effective date.

"Biodiesel will help decrease our dependency on expensive foreign oil, it will help protect our environment, and promote South Dakota's economy," said Gov. Rounds. "I look forward to the day when Wall Street investors will look at the cost of a bushel of corn or soybeans rather than the price of a barrel of foreign oil."

Gov. Rounds has also signed the following bills into law:
HB1061 An Act to revise the penalty for the distribution or possession with intent to distribute marijuana to a minor.

HB1271 An Act to abolish the doctrine of abatement ab initio of a criminal proceeding and to provide for the posthumous sentencing of certain criminal defendants.

SB0017 An Act to revise certain provisions regarding the regulation of banks.

SB0069 An Act to add marijuana to the list of abusive substances for the purposes of determining child abuse.

SB0109 An Act to authorize the Fourth Circuit drug court program in the Unified Judicial System, to make an appropriation therefor, and to declare an emergency.

SB0128 An Act to revise certain provisions regarding the modification of credit card agreements.

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