Legislative Update with Kenley

South Dakota legislative updates; our stance on key federal proposals; and details for SD CU Legislative Day.

By Kenley Lamberty, DakCU Director of Political Strategy and Engagement

The 101st Legislative Session Updates
As the 2026 South Dakota Legislative Session progresses, the Dakota Credit Union Association (DakCU) continues to actively review and track bills that may affect credit unions, their members, and the communities they serve. Below is a current snapshot of the key legislation we are monitoring along with one measure we oppose ensuring our advocacy efforts remain focused, informed, and responsive to emerging issues.

MONITORING:

• House Bill (HB) 1033 - Update to Internal Revenue Code Reference for Higher Education Savings Plans
• Senate Bill (SB) 6 - Reduction of Maximum Reemployment Benefits Duration
• SB 12 - Refund of Property Taxes for Qualifying Veterans and Surviving Spouses
• SB 18 - Repeal income modifications for the bank franchise tax pertaining to bad debts
• SB 20 - Make an appropriation for tax refunds for elderly persons and persons with a disability, and to declare an emergency
• SB 23 - Include certain types of vehicles in the unpaid repair bill titling process
• SB 43 - Address search and seizure provisions applicable to digital currency
• SB 98 - Crypto Kiosks
• HB 1061 - Cash transaction

​OPPOSE:

• HB 1026 - Licensing and Regulation of Property Data Collectors and Companies

If you have questions about these or any other bills please feel free to reach out to me.

Letter on Credit Card Competition Act (CCCA) and Credit Card Cap
Last week, the DakCU sent a letter to members of Congress expressing its opposition to the Credit Card Competition Act and the proposed 10% interest rate cap.

In the letter, DakCU noted that while affordability is an important goal, the proposed measures do not address the underlying drivers of rising consumer costs. Instead, the association warned the legislation could restrict access to credit, particularly for consumers with lower incomes or limited credit histories. Limiting interest rates could force institutions to reduce or eliminate certain credit products, leaving many consumers with fewer options and potentially pushing them toward higher‑cost alternatives.

The association said it will continue monitoring the legislation and will keep members informed as the issues move forward.

Event Reminder: South Dakota Credit Union Legislative Day – February 11
Join us in Pierre on February 11 for South Dakota Credit Union Legislative Day! We’ll start the morning at the Capitol with coffee and donuts for legislators, followed by the SD GAC annual meeting, a group photo in the Rotunda, and formal introductions on the House and Senate floors. Later in the day, we’ll host a Legislative Leadership Panel and wrap up with a networking social to strengthen relationships with lawmakers and fellow credit union advocates. This is a free event for DakCU members, but we do ask you to kindly register by February 4, so we can plan accordingly.

Please note: The room block at the ClubHouse Hotel and Suites is now full. If you still need a room, please reach out to me directly at [email protected] and I will help secure an additional room.

Stay Connected
For more information or to share your perspectives, feel free to contact me. ​