South Dakota · November 3, 2026

Vote Yes on
Amendment K

It's our neighbors' lost money. Keep it safe. Let it grow. Pay every claim, forever.

How K Works Check For Your Money

Early voting is open now. Amendment K is on every South Dakota ballot.1

CONSTITUTIONAL AMENDMENT K
Title: An amendment to the Constitution of the State of South Dakota, establishing the trust for unclaimed property fund.
Placed on the ballot by the South Dakota Legislature.
YES Protect it and invest it
NO
The Short Version

Unclaimed property is money people lost track of.

An old bank account. A final paycheck. A life insurance payout nobody knew about. After about three years with no contact, banks and businesses turn it over to the State Treasurer, who holds it until the owner comes back.9

It isn't the state's money.

The state owes it back to the owner. There is no deadline. Ever.7

For years, it got spent.

Much of it went into the regular budget, even though the state still owes it.5, 6

K fixes that for good.

The money goes into a protected trust. Only the earnings get used.3

The old way
Money comes inHundreds of millions a year
Most of it gets spentTreated like regular budget money
The state still owes itPromises to owners grow past $1.2 billion, with little set aside5, 6
With Amendment K
Money comes inClaims are paid first
The rest is locked in a trustInvested for the long run
Only the earnings get usedThe principal stays to pay every claim3
How Amendment K Works

The money stays put. Only the interest goes to work.

Money comes in

Banks and businesses turn over accounts they can't return.

Claims get paid first

The Treasurer pays owners who come forward, plus office costs.3

The rest goes in the trust

The South Dakota Investment Council invests it for the long run.3

Earnings help the state

Starting July 2027, part of the earnings goes to the state budget each year.3

The principal is locked. It can only be used to pay claims, unless three-fourths of both chambers agree otherwise. That's 53 of 70 House members and 27 of 35 senators.3, 5

State House: 53 of 70 votes

That's what it would take to use the principal for anything but paying claims.

House

State Senate: 27 of 35

Both chambers have to clear the bar.

Senate
Votes neededRemaining seats
Why South Dakota Holds So Much

Banks chartered here hold accounts from all over the country.

When those accounts go quiet, South Dakota gets the job of holding the money and finding the owner. Some of it belongs to South Dakotans. Most of it comes from somewhere else.5

$1.2B+
owed to rightful owners5, 6
$357M
taken in during fiscal year 2025, a record5
~4%
what the trust earns today8
~6.5%
expected if the Investment Council manages it8

Return figures are a state Bureau of Finance and Management estimate from July 2026. Investment returns are projections, not guarantees.8

The budget stops leaning on this money

Most unclaimed property that can go into the state budget each year, under the 2025 law (SB 155).4

$0M$20M$40M$60M$61.4MFY26$58MFY27$54MFY28$50MFY29$46MFY30$42MFY31$38MFY32$34MFY33$30MFY34$25MFY35+

What the trust could earn in a year

On today's balance of about $163 million.8

Today, about 4%$6.5MWith K, about 6.5%$10.6M

About $4 million more each year, using the state budget office's estimates. Not a guarantee.

Clearing Up The Confusion

Straight answers to the questions people ask.

NoIs the state taking my money?

No. Unclaimed property always belongs to its owner. Amendment K protects it so the state can always pay it back.7

YesCan I still claim it?

Yes. Anytime, forever. Nothing about your right to claim changes. Search your name at cash.sd.gov.7

NoDoes K raise taxes?

No. K has no tax in it. It changes where this money is kept and how it's invested.3

LawDoesn't this fund already exist?

Partly. A 2025 law, SB 155, started the trust. But only a constitutional amendment lets the Investment Council manage it like the state's other trust funds. Right now it sits in a low-earning account.4, 7

BudgetWhere do the earnings go?

Into the state's general fund. That's the same budget that pays for schools, Medicaid and state workers. The Legislature decides how it's spent each year.3, 5

LockedCan lawmakers just raid it?

Not easily. Touching the principal for anything but claims takes a three-fourths vote in both the House and Senate.3

RiskIs investing it risky?

The Investment Council already manages the state's retirement fund and other trusts. Values can rise and fall year to year. The trust is built so every valid claim can be paid.5, 7

If NoWhat happens if K fails?

The trust stays in state law, but the money keeps sitting in a low-earning account. The state gives up the higher long-term returns.7, 8

Who Supports It

Republicans and Democrats agree on this one.

The Senate voted 35 to 0 to put K on the ballot. The House voted 69 to 0. See The Record. Nobody filed an argument against it.2, 10

"That trust fund lets the state spend only what that fund earns, and the principal stays where it is, available to pay every claim."5

Rep. Chris Kassin (R-Vermillion) and Rep. Erik Muckey (D-Sioux Falls), The Dakota Scout, September 26, 2026
State Treasurer Josh HaederWrote the official argument for Amendment K in the ballot pamphlet. Read The Ballot Pamphlet
Sen. Taffy Howard, Rapid CityPrime sponsor of the resolution that put K on the ballot. See SJR 505
Reps. Kassin and MuckeyBudget committee members from both parties. Co-wrote the case for Yes. Read Their Column
The whole LegislatureNot one no vote in either chamber. See The Votes

Is there money with your name on it?

It takes a minute. Search your name, your business, or a relative who passed away. It's free to claim through the State Treasurer.

Search At cash.sd.gov
Make Your Plan

Vote Yes on K by November 3.

Vote early

Early and absentee voting is open now. How To Vote Early

Find your polling place

Look up where you vote and see your sample ballot. Voter Information Portal

Election Day

Tuesday, November 3, 2026. Find Amendment K with the other constitutional amendments on your ballot.