PIERRE — Larry Rhoden presented his first budget address as governor of South Dakota.

The incumbent, who took over for former Gov. Kristi Noem in January, delivered his budget priorities for the state's next fiscal year beginning July 1, 2026.

The state's proposed 137th budget under Rhoden outlined a conservative approach to spending — particularly on one-time expenses — amid what several lawmakers have called lean revenue cycle.

What follows is a transcript of Rhoden's 2025 budget address as provided by his office:

Transcript

Good afternoon, Lieutenant Governor Venhuizen, Mr. Speaker, members of the House and Senate, and my fellow South Dakotans.

Before I begin, please join me in greeting my wife, Sandy, who is here with us!

Welcome back to Pierre! It’s only been a couple of months

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