SB 138-FN (2003): clarifying the exemption from the interest and dividends tax for distributions from qualified tuition savings programs.
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@misc{bill-2003-sb138, title = {SB 138-FN (2003): clarifying the exemption from the interest and dividends tax for distributions from qualified tuition savings programs.}, howpublished = {Granite Record}, url = {https://graniterecord.org/bill/2003/sb138}, note = {Accessed 24 Oct. 2026} }
SB 138-FN (2003)
clarifying the exemption from the interest and dividends tax for distributions from qualified tuition savings programs.
- Status: Signed into law
- Term: 2003-2004
- House committee: Ways and Means
- Senate committee: Ways and Means
- Subject: Taxes - State
- Chapter law: 64
The Story
It was introduced on January 30, 2003 and referred to the Senate Ways and Means committee. The committee held a public hearing on March 19, 2003. The committee recommended that the Senate pass it. On March 27, 2003 the Senate voted to pass it on a voice vote, then referred it on to the Senate Finance committee. The committee recommended that the Senate pass it. On April 10, 2003 the Senate voted to pass it on a voice vote and ordered it to a third reading. On April 10, 2003 the Senate voted to pass it. It crossed to the House on April 10, 2003 and was referred to the House Ways and Means committee. The committee held a public hearing on April 24, 2003. The majority of the committee recommended that the House pass it unanimously, 17–0, and the report was placed on the consent calendar. On May 8, 2003 the House voted to pass it. The bill was enrolled on May 15, 2003 — the final check of the text before it goes to the governor. The governor signed it on May 27, 2003, making it Chapter 64 of the session laws. It took effect on July 1, 2003.
Sponsors
- Sen. Sylvia Larsen (D - SD15) (prime sponsor)
- Sen. Andrew Peterson (R - SD11)
- Sen. Clifton Below (D - SD5)
Hearings and Sessions
- March 19, 2003, 9:15 AM: hearing, Senate Ways and Means, SH 103
- April 24, 2003, 11:30 AM: hearing, House Ways and Means, RM202,LOB
Votes
- March 27, 2003, Senate: Ought to Pass — voice vote, passed
- April 10, 2003, Senate: Ought to Pass — voice vote, passed
The Docket
- January 30, 2003: Introduced and Ref. to Ways & Means
- March 19, 2003: Hearing; March 19, 2003, Room 103, SH, 8:45 a.m.; SC13
- March 19, 2003: Hearing; March 19, 2003, Room 103, SH, 9:15 a.m.; SC14
- March 21, 2003: Committee Report; Ought to Pass [03/27/03]; SC15
- March 27, 2003: Ought to Pass, MA, VV; Refer to Finance [Rule 26]
- April 4, 2003: Committee Report; Ought to Pass [04/10/03]; SC17
- April 10, 2003: Ought to Pass, MA, VV; OT3rdg
- April 10, 2003: Passed by 3rd Reading Resolution
- April 10, 2003: Introduced and ref to Ways & Means
- April 14, 2003: Report due on 5/8/2003 <f>
- April 24, 2003: Hearing Apr 24 11:30 RM202,LOB
- April 30, 2003: Maj Report OTP for May 8 (Vote 17-0;CC)
- May 8, 2003: Passed
- May 15, 2003: Enrolled
- May 15, 2003: Enrolled
- May 27, 2003: Signed by the Governor on 5/27/2003 Eff- 7/1/2003 Chap- 0064
- September 22, 2003: