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South Dakota's next budget is being shaped amidst healthy signs in sales tax collections.
South Dakota's next budget is being shaped amidst healthy signs in sales tax collections.
October 30, 2015

SD Economy Picks Up After Sluggish FY2015

The state of South Dakota has collected 5 percent more in sales tax since July 1 in 2015 than the previous year, reports the Rapid City Journal

That makes for a marked increase over the 2.2 percent boost in sales tax for the entire fiscal year of 2015, which ended June 30. A member of the governor's staff gave updated information to the Governor’s Council of Economic Advisers as work is underway on the state's budget for Fiscal Year 2017, which begins July 1, 2016, and which the state Legislature will approve by March 2016.

The council also was told that South Dakota's gross domestic product fell 0.9 percent in 2012, then grew by 0.9 percent in 2013 and 0.6 percent in 2014.

The FY2017 budget will include a 0.3 percent inflationary increase in funding for K-12 schools and a 2.1 percent increase to healthcare providers. Also, the budget presented to state lawmakers by Gov. Dennis Daugaard on Dec. 8 will include $5.3 million to help offset tuition consts for South Dakota residents at public universities and technical institutes. 

 

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