Pierre, S.D. (March 25, 2023) – House Bill 1193, a bill that redefines money in commercial law, has become the “battle royale” this session according to some reports and the fight seems to be heating up before the House reconsiders Governor Noem’s veto of the legislation this Monday.
Today, the South Dakota Freedom Caucus issued a 4-page letter to fellow legislators, in response to documents the South Dakota Bankers Association released on the legislation which the Freedom Caucus is calling “flawed,” and comes a day after the Freedom Caucus issued their document “Debunking the Spin on the UCC Updates.”
Within the Freedom Caucus letter, they claim that many of the arguments made by proponents of the legislation are “inconsistent.”
“They’re arguing out of both ends!”, said Freedom Caucus Treasurer Representative Tina Mulally on the confusion with the legislation proponent’s arguments. “On the one hand they say they must include one type of currency in the definition of money because other countries have adopted it,” Mulally explains, “but then they say they have to exclude other currencies because other countries have adopted it. That just doesn’t make sense.”
Freedom Caucus Vice Representative Tony Randolph said that they issued the letter today to illustrate problems they see from the proponents of the legislation, and to encourage other Representatives to support Governor Noem’s veto of the bill.
“This legislation just isn’t ready for primetime,” said Representative Randolph, “Governor Noem was right to veto this.”
The South Dakota Legislature will reconvene this coming Monday, to reconsider the UCC update, along with other bills, and can override the Governor’s objections if they get a two-thirds vote to do so.
