HB1289 modifies the rules for creating and operating tax increment financing (TIF) districts, which are special areas where tax revenue increases are used to fund local development projects. The bill updates definitions and requirements across multiple sections of South Dakota law governing TIF districts, though the specific substantive changes would need to be reviewed in the full bill text beyond the excerpted definitions shown.
Taxation Tabled Passed, YEAS 12, NAYS 0.
Taxation Scheduled for hearing
First read in House and referred to House Taxation H.J. 220
Prime sponsor · Rep.
R
Taxation — Tabled