If I am not mistaken, SBD will start being printed again the moment STEEM crosses the $0.23 mark.

The printing of SBD has not stopped since the last hardfork (althought at a slower pace). Remember that the SPS pays out in SBD -not in steem- and there is no failsafe.

The point where the blockchain starts printing SBD as rewards is when steem hits the 0.19617 price but it only pays 100% if the median price feed gets to 0.218 (with the current supply).