2013 Senate Bill 124 - Introduced

State of South Dakota  
EIGHTY-EIGHTH SESSION
LEGISLATIVE ASSEMBLY, 2013  

258U0351   SENATE BILL   NO.  124  

Introduced by:    Senators Begalka and Lucas and Representatives Tyler, Feickert, Hickey, and Peterson
 

        FOR AN ACT ENTITLED, An Act to increase the real estate transfer fees and to revise the distribution of the fees.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF SOUTH DAKOTA:
    Section 1. That § 43-4-21 be amended to read as follows:
    43-4-21. A fee is hereby imposed at the rate of fifty cents five dollars for each five hundred dollars of value or fraction thereof upon the privilege of transferring title to real property in the State of South Dakota, which fee shall be paid by the grantor.
    Section 2. That § 43-4-25 be amended to read as follows:
    43-4-25. The Twenty percent of the proceeds of all fees collected under § 43-4-21 for property located in an organized township shall be remitted on a monthly basis to the credit of the county general fund by the register, who shall obtain a receipt therefor from the county treasurer and keep such records as may be prescribed by the state auditor general. Twenty percent of the proceeds of all fees collected under § 43-4-21 for property located in an organized township shall be remitted on a monthly basis to the credit of the township general fund by the register.
    Forty percent of the proceeds of all fees collected under § 43-4-21 for property located in an unorganized township or an incorporated municipality shall be remitted on a monthly basis to the credit of the county general fund by the register.
    Sixty percent of the proceeds of all fees collected under § 43-4-21 shall be remitted on a monthly basis to the credit of the state general fund by the register.

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