Amendment K would constitutionalize a trust for South Dakota’s unclaimed-property fund. State law enacted in 2025 already created a trust for net unclaimed-property receipts exceeding specified general-fund contribution limits. The statutory structure preserves trust principal, uses the fund to support payment of claims and related expenses, and permits a calculated distribution to the general fund without invading principal. The ballot question is whether those protections should be elevated into the Constitution, making it harder for future legislatures to draw down the accumulated fund for unrelated budget needs. The state may hold unclaimed money for years, but the underlying obligation to return valid claims does not disappear just because the budget wants cash. The question is how much money must remain protected for future owners.
How should South Dakota protect money received from unclaimed property?