70:05:03:03Application requirements.

Section · Administrative Rules of South Dakota · View on sdlegislature.gov ↗

Rulemaking activity

• 70:05:01:01 – Terms • 70:05:01:02 – Meetings and quorum • 70:05:01:03 – Declaratory rulings • 70:05:01:04 – Approval of division action. • 70:05:01:05 – Adoption of guidelines for property management – Notice required. • 70:05:02:16 – Record of income • 70:05:03:01 – Definitions • 70:05:03:03 – Application requirements • 70:05:03:04 – Equity contribution • 70:05:03:05 – Permissible uses of loan proceeds • 70:05:03:06 – Factors for board action • 70:05:03:07 – Acceptance and time restrictions of applicant • 70:05:03:08 – Loan agreement • 70:05:03:09 – Borrower reporting requirements • 70:05:03:10 – Inspection of the borrower by the board and retention of records • 70:05:03:11 – Additional notification requirements • 70:05:03:12 – Maturity and interest rate • 70:05:03:13 – Review of financial status • 70:05:03:15 – Delegation of administrative functions • 70:05:04:01 – Deadline for submission of information for railroad tax credit – Application form – Information required.Effective

The department shall provide application forms to applicants. The application must be complete before it is processed. Applications must include the following information: (1) The applicant's name and address; (2) A detailed description of the proposed railroad project; (3) The names and addresses of the proposed rail operator and any other benefitted entity; (4) Articles of incorporation and bylaws or other agreements that describe the legal operation or structure of the regional railroad authority; (5) A statement that addresses the economic benefit of the project; (6) Assurance of compliance with local zoning laws and building codes; (7) The approximate project commencement date, the completion date, and the date by which the project will be fully operational; and (8) Any other information requested by the department or the board to make a sound loan decision.

Source: 19 SDR 107, effective January 24, 1993; 49 SDR 47, effective November 21, 2022.

General Authority

SDCL 49-16C-3 ↗

Law Implemented

SDCL 49-16C-3 ↗

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