FOR AN ACT ENTITLED, An Act to  revise the property tax levies for the general fund of a school district.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF SOUTH DAKOTA:
     Section  1.  That § 10-12-42 be amended to read as follows:
     10-12-42.   For taxes payable in 1999 2000 and each year thereafter, the levy for the general fund of a school district shall be as follows:

             (1)      The maximum tax levy shall be sixteen dollars and twenty-five fifteen cents per thousand dollars of taxable valuation subject to the limitations on agricultural property as provided in subdivision (2) of this section, owner-occupied property as provided for in subdivision (3) of this section, and nonagricultural acreage property as provided for in subdivision (4);

             (2)      The maximum tax levy on agricultural property for such school district shall be four dollars and seventy-three seventy cents per thousand dollars of taxable valuation. If the district's levies are less than the maximum levies as stated in chapter 10-13, the levies shall maintain the same proportion to each other as represented in the mathematical relationship at the maximum levies;

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             (3)      The maximum tax levy for an owner-occupied single-family dwelling as defined in §  10-13-40, for such school district may not exceed seven dollars and sixty-one fifty- six cents per thousand dollars of taxable valuation. If the district's levies are less than the maximum levies as stated in chapter 10-13, the levies shall maintain the same proportion to each other as represented in the mathematical relationship at the maximum levies;

             (4)      The maximum tax levy on nonagricultural acreage property as defined in §  10-6-33.14, for such school district shall be six five dollars and sixty-six seventy cents per thousand dollars of taxable valuation. If the district's levies are less than the maximum levies as stated in chapter 10-13, the levies shall maintain the same proportion to each other as represented in the mathematical relationship at the maximum levies.

     All levies in this section shall be imposed on valuations where the median level of assessment represents eighty-five percent of market value as determined by the Department of Revenue. These valuations shall be used for all school funding purposes. If the district has imposed an excess levy pursuant to §  10-12-43, the levies shall maintain the same proportion to each other as represented in the mathematical relationship at the maximum levies in this section. The school district may elect to tax at less than the maximum amounts set forth in this section.

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BILL HISTORY
1/25/99 First read in House and referred to Taxation.   H.J.   174
1/28/99 Scheduled for Committee hearing on this date.
1/28/99 Taxation Do Pass, Passed, AYES 13, NAYS 0.   H.J.   234
1/29/99 House of Representatives Do Pass, Passed, AYES 66, NAYS 0.   H.J.   271
2/1/99 First read in Senate and referred to Taxation.   S.J.   289
2/17/99 Scheduled for Committee hearing on this date.
2/17/99 Taxation Do Pass, Passed, AYES 9, NAYS 0.   S.J.   518
2/18/99 Senate Deferred to another day.   S.J.   573
2/25/99 Senate Deferred to another day.   S.J.   688
3/2/99 Motion to Amend, Passed.   S.J.   741
3/2/99 Senate Do Pass Amended, Passed, AYES 35, NAYS 0.   S.J.   741