PIERRE, S.D. (KELO) — Governor Kristi Noem signed the first bills of the 2023 legislative session.

The first bill cuts how much employers have to contribute to unemployment insurance.

The governor says the point-five percent tax cut will save $18 million for businesses. The bill also changes when a surcharge is imposed on the Unemployment Insurance Trust Fund.

Governor Noem also sign a housing bill into law today. The bill frees up $200 million in housing infrastructure investment. Due to the bill’s emergency clause, this funding is available right away, which allows it to be sent out prior to this year’s construction season.

The goal is to build new housing across the state so more people can move to South Dakota to fill open jobs.