70:05:04:01.  Deadline for submission of information for railroad tax credit -- Application form -- Information required. A railroad seeking certification for railroad tax credits pursuant to SDCL 10-28-21.2 shall submit the following information to the department, on a form prescribed by the department, no later than June 1 of the year following the year in which the replacement, improvement, and repair of rail lines was completed:

    (1)  The name of the railroad;

    (2)  The total amount of qualifying capital expenditures incurred statewide for replacement, improvement, and repair of rail lines;

    (3)  A list of the counties where the replacement, improvement, and repair of rail lines took place;

    (4)  A description of the kind of work that was performed and an explanation of the purpose and justification for the work performed in each county;

    (5)  The date the work was begun and the date the work was completed in each county;

    (6)  The name of the line segment and the mile post markers corresponding to the starting and ending points of the work performed in each county;

    (7)  The amounts of the labor, material, and total capital expenditures incurred in each county;

    (8)  The amount of expenditures in each county that were funded with state or federal grant funds or paid for by any third party;

    (9)  A copy of the tax credit certification submitted by the railroad for each county where a tax credit is claimed; and

    (10)  A statement, signed by a person authorized to act on behalf of the railroad, certifying that all information provided is true and all documents submitted are authentic.

    Source: 31 SDR 89, effective December 28, 2004; 49 SDR 47, effective November 21, 2022.

    General Authority: SDCL 10-28-21.6.

    Law Implemented: SDCL 10-28-21.6.