70:05:04:01Deadline for submission of information for railroad tax credit -- Application form -- Information required.

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

A railroad seeking certification for railroad tax credits pursuant to SDCL 10-28-21.2 shall submit the following information to the department, on a form prescribed by the department, no later than June 1 of the year following the year in which the replacement, improvement, and repair of rail lines was completed: (1) The name of the railroad; (2) The total amount of qualifying capital expenditures incurred statewide for replacement, improvement, and repair of rail lines; (3) A list of the counties where the replacement, improvement, and repair of rail lines took place; (4) A description of the kind of work that was performed and an explanation of the purpose and justification for the work performed in each county; (5) The date the work was begun and the date the work was completed in each county; (6) The name of the line segment and the mile post markers corresponding to the starting and ending points of the work performed in each county; (7) The amounts of the labor, material, and total capital expenditures incurred in each county; (8) The amount of expenditures in each county that were funded with state or federal grant funds or paid for by any third party; (9) A copy of the tax credit certification submitted by the railroad for each county where a tax credit is claimed; and (10) A statement, signed by a person authorized to act on behalf of the railroad, certifying that all information provided is true and all documents submitted are authentic.

Source: 31 SDR 89, effective December 28, 2004; 49 SDR 47, effective November 21, 2022.

General Authority

SDCL 10-28-21.6 ↗
Amended by SB70 (2026) — revise the duties of the Transportation Commission to include responsibilities o

Law Implemented

SDCL 10-28-21.6 ↗
Amended by SB70 (2026) — revise the duties of the Transportation Commission to include responsibilities o