This bill modifies South Dakota's tax increment financing (TIF) districts by preventing counties from using discretionary tax assessment formulas for newly constructed properties located within TIF districts—formulas that previously allowed reduced assessed values for up to five years after construction. The changes affect how property values are determined for tax purposes in TIF districts while maintaining existing assessment rules outside those districts.
Signed by the Governor S.J. 541
Delivered to the Governor S.J. 510
Signed by the Speaker H.J. 543
Signed by the President S.J. 485
House of Representatives Do Pass Amended Passed, YEAS 67, NAYS 0. H.J. 515
Taxation Do Pass Passed, YEAS 9, NAYS 2. H.J. 11
Taxation Scheduled for hearing
First read in House and referred to House Taxation H.J. 445
Senate Do Pass Amended Passed, YEAS 33, NAYS 0. S.J. 386
Taxation Certified uncontested, placed on consent S.J. 17
Taxation Do Pass Amended Passed, YEAS 7, NAYS 0. S.J. 17
Taxation Motion to amend S.J. 17
Taxation Scheduled for hearing
First read in Senate and referred to Senate Taxation S.J. 180
Prime sponsor · Sen.
R
Do Pass Amended
Taxation — Do Pass
Do Pass Amended
Taxation — Do Pass Amended