ARTICLE 64:41
UTILITIES
Chapter
64:41:01 Interpretive rules -- Railroads.
Declaratory Ruling: Tax incentive credit for replacement and repair of existing railroad tracks may be credited against future taxes if credit exceeds one-third of the current year's taxes. Subsequent years' credits may be added together as long as the total credits do not exceed one-third of the taxes for each year. Unused credits can only be carried forward for two years. Secretary of Revenue Declaratory Ruling No. 76-1.
CHAPTER 64:41:01
INTERPRETIVE RULES -- RAILROADS
Section
64:41:01:01 Repealed.
64:41:01:02 Operating property leased to private individuals.
64:41:01:03 Operating property leased for agricultural purposes.
64:41:01:04 Lease of operating property directly connected with shipment.
64:41:01:05 Property not contiguous to right-of-way.
64:41:01:06 Property leased for three or more years.
64:41:01:07 Annual statement required.
64:41:01:08 Annual statement shall include list of all nonoperating property by plat.
64:41:01:09 Repealed.
64:41:01:01. Definition of operating property.Repealed.
Source: SL 1975, ch 16, § 1; repealed, 13 SDR 129, 13 SDR 134, effective July 1, 1987.
64:41:01:02. Operating property leased to private individuals. Leasing of operating property to private individuals for the purpose of assembling goods, wares, and merchandise for shipping by a railroad or for the purpose of receiving and assembling from shipment by a railroad does not change the character of real estate from operating to nonoperating property.
Source: SL 1975, ch 16, § 1; 13 SDR 129, 13 SDR 134, effective July 1, 1987; 21 SDR 219, effective July 1, 1995.
General Authority: SDCL 10-28-25.
64:41:01:03. Operating property leased for agricultural purposes. Leasing operating property for agricultural purposes does not change the character of the property from operating to nonoperating property.
Source: SL 1975, ch 16, § 1; 13 SDR 129, 13 SDR 134, effective July 1, 1987; 21 SDR 219, effective July 1, 1995.
General Authority: SDCL 10-28-25.
64:41:01:04. Lease of operating property directly connected with shipment. Lease of operating property to any private business not directly connected with shipment by a railroad company constitutes a change of the property from operating to nonoperating property.
Source: SL 1975, ch 16, § 1; 13 SDR 129, 13 SDR 134, effective July 1, 1987; 21 SDR 219, effective July 1, 1995.
General Authority: SDCL 10-28-25.
64:41:01:05. Property not contiguous to right of way. Property which is not contiguous to the right-of-way or station grounds is considered nonoperating property.
Source: SL 1975, ch 16, § 1; 13 SDR 129, 13 SDR 134, effective July 1, 1987; 21 SDR 219, effective July 1, 1995.
General Authority: SDCL 10-28-25.
Law Implemented: SDCL 10-28-11.
64:41:01:06. Property leased for three or more years. If property is leased for a term of three years or more by a railroad company, the leasehold interest of the lessee is subject to assessment by the local assessor. The assessment shall be made to the lessee and not to the railroad company.
Source: SL 1975, ch 16, § 1; 13 SDR 129, 13 SDR 134, effective July 1, 1987; 21 SDR 219, effective July 1, 1995.
General Authority: SDCL 10-28-25.
Law Implemented: SDCL 10-4-23.
64:41:01:07. Annual statement required. Each railroad company shall, not later than the 20th day of April of each year, furnish the department with a duplicate list of all leases of property for three or more years on right-of-way or station grounds. The company shall set forth in the report the name and address of the lessee, the description of the property leased, and the amount of the rent derived from the leases.
Source: SL 1975, ch 16, § 1; 13 SDR 129, 13 SDR 134, effective July 1, 1987; 21 SDR 219, effective July 1, 1995.
General Authority: SDCL 10-28-25.
Law Implemented: SDCL 10-28-4.
64:41:01:08. Annual statement shall include list of all nonoperating property by plat. The railroad company shall furnish in its annual report to the department for assessment purposes, an itemized list of all nonoperating property situated within the state. The list shall be itemized and described according to the plat of the property on file with the register of deeds of each county.
Source: SL 1975, ch 16, § 1; 13 SDR 129, 13 SDR 134, effective July 1, 1987; 21 SDR 219, effective July 1, 1995.
General Authority: SDCL 10-28-25.
Law Implemented: SDCL 10-28-3(9).
64:41:01:09. Personal property located on railroad property subject to assessment.Repealed.
Source: SL 1975, ch 16, § 1; repealed, 13 SDR 129, 13 SDR 134, effective July 1, 1987.
