Constitutional Amendment K: Trust for Unclaimed Property Fund
Statewide — all of South Dakota
General election · Tuesday, November 3, 2026
- The South Dakota Legislature referred this amendment to the Nov. 3, 2026 ballot as Senate Joint Resolution 505 (2025 session), prime sponsored by Sen. Taffy Howard and Rep. Chris Kassin. The Senate passed it 35-0 on Feb. 20, 2025 and the House 69-0 on March 6, 2025, according to the Legislature's bill record.[2]
The question on the ballot
An Amendment to the South Dakota Constitution Establishing the Trust for Unclaimed Property Fund.[1]
Attorney General explanation: Under South Dakota statute, intangible property (such as bank deposits, refunds, stocks and insurance proceeds) is presumed abandoned if unclaimed for more than three years and is transferred to the State Treasurer to hold while awaiting the owner. This amendment establishes a trust fund where unclaimed abandoned property will be deposited. Portions of the interest and income from this fund will be distributed into the general fund for the benefit of the state, and the Legislature must determine the amount distributed so as to promote growth of the trust fund and the distributed amount. The text is two pages long containing two sections.[1]
A YES vote means
Vote “Yes” to adopt the amendment.
A NO vote means
Vote “No” to leave the Constitution as it is.
The law today
Per the Attorney General's explanation, under South Dakota statute intangible property is presumed abandoned if unclaimed by the owner for more than three years after it became payable or distributable. Abandoned intangible property is transferred to the State Treasurer to hold while waiting for the owner to claim it, and the Treasurer must provide public notice of it.[1]
Arguments made for
- Statement by State Treasurer Josh Haeder: “If voters approve it, unclaimed property dollars will be held in a permanent trust fund. The interest those dollars earn becomes a new permanent source of state revenue for roads, schools, and other public services without raising taxes.”[1]
- Statement by Treasurer Haeder: “Today, those dollars sit in a temporary fund earning only 3 to 4 %.”[1]
Arguments made against
- None found in public sources.
On record in support
- State Treasurer Josh Haeder, who wrote the pro statement in the Secretary of State's pamphlet.[1][3]
- Sen. Taffy Howard (R-Rapid City), prime sponsor of the resolution; South Dakota Searchlight reports the resolution had the support of the state's Bureau of Finance and Management and the State Treasurer's Office.[3][2]
On record in opposition
- None found in public sources.
Research notes & limits
Title, explanation and effect of a vote are the Attorney General's text as printed in the Secretary of State's 2026 Ballot Question Pamphlet; the pro and con statements are the authors' own statements printed there (the pamphlet says the Secretary of State is not responsible for their accuracy). The pamphlet prints no fiscal note for this amendment. No opposing statement was submitted: the pamphlet's Con column for Amendment K reads “No statement provided.” Vote counts are the recorded chamber passage votes on the Legislature's action log (the House amended the resolution; the log shows no separate recorded Senate concurrence vote). South Dakota Searchlight (Oct. 15, 2026) reports no organized opposition has surfaced, so no opponents are listed. No fiscal note or campaign finance totals were found.
Sources · 3
Researched 2026-10-19. Green citations are official government records.
- 1.2026 Ballot Question Pamphlet · South Dakota Secretary of State Official record
- 2.SJR 505 (2025): bill actions and votes · South Dakota Legislature · 2026-10-19 Official record
- 3.Amendment K: Lawmakers ask voters to approve investing unclaimed property proceeds in a trust fund · South Dakota Searchlight · 2026-10-15 News report