S.D. Codified Laws § 32-5B-24
If the motor vehicle lease tax has been paid on a qualifying lease under §§ 32-5B-1, 32-5B-1.1, 32-5B-4(7), and 32-5B-21 to 32-5B-24, inclusive, and prior to the expiration of the lease, the vehicle subject to the lease is destroyed by means such as fire, accident, or vandalism, to the extent that it constitutes a total loss of the vehicle, a credit for motor vehicle lease tax paid for the period remaining on the previous lease shall be allowed if another vehicle is substituted under the original lease or a new lease is executed with the intent to replace the vehicle subject to the previous lease. To initially qualify for the credit there must be a total loss of the vehicle subject to the previous lease, a new lease must be executed or a vehicle must be substituted under the original lease. To qualify for the credit, the new lease or substituted vehicle under the original lease shall be executed by the same lessor and lessee, for lease of a vehicle of the same or similar make, model, year, and options as the vehicle subject to the previous lease, for the remaining lease period of the previous lease, and for the same lease price. The lease shall contain the same lease terms as the previous lease.
SDCL 32-5B-24