South Dakota counties can now issue bonds backed by a gross receipts tax they collect locally, using the bond proceeds for specific projects like courthouse repairs, jails, and drug treatment facilities. The county governing body must pass a resolution agreeing to impose and collect the tax specifically to pay back the bonds as long as they're outstanding. This creates a new funding mechanism for counties to finance certain public infrastructure and services through bonded debt.
This bill does not directly amend codified state law.
Senate Do Pass Failed, YEAS 7, NAYS 28. S.J. 181
Taxation Do Pass Passed, YEAS 4, NAYS 2. S.J. 3
Taxation Scheduled for hearing S.J. 1
First read in Senate and referred to Senate Taxation S.J. 103
Al Novstrup
Prime sponsor · Sen.
R
Ernie Otten
Prime sponsor · Rep.
R
Do Pass
Taxation — Do Pass