create the property tax local effort replacement fund, to reduce certain property taxes, and to increase the rates for certain gross receipts taxes and use taxes.

SB 99 eliminates property taxes on owner-occupied single-family homes in South Dakota by reducing the maximum tax levy to $0 per thousand valuation, while increasing gross receipts tax rates for retailers from 4.2% to 6.2%. The bill also expands the 4.2% gross receipts tax to cover additional services like accountants, beauty shops, and laundry services (previously taxed at 4.2% under § 10-45-5). These changes directly affect homeowners (specifically single-family residents) and businesses in the listed service sectors. The policy shifts local tax burden from property to retail sales, with the revenue funding a new "property tax local effort replacement fund" to offset the reduced property tax revenue for school districts.