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State of South Dakota
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SEVENTY-SIXTH
SESSION
LEGISLATIVE ASSEMBLY, 2001 |
| 582E0185 |
SENATE BILL
NO.
178
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| Introduced by: Senators de Hueck, Dennert, Duxbury, Hutmacher, Koetzle, and McIntyre and Representatives Slaughter, Bartling, Flowers, Juhnke, Lange, Pederson (Gordon), Sutton (Duane), and Van Gerpen |
FOR AN ACT ENTITLED, An Act to
appropriate funds for distribution to the counties to
replace the state inheritance tax revenue.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF SOUTH DAKOTA:
Section 1. There is hereby appropriated each fiscal year from the general fund the sum of two million eight hundred seventy-two thousand four hundred sixty-four dollars ($2,872,464) which shall be increased annually by an index factor, or so much thereof as may be necessary, to the Department of Revenue for distribution to the counties to replace the inheritance tax revenue pursuant to section 2 this Act. The index factor is the annual percentage change in the consumer price index for wage earners and clerical workers as computed by the Bureau of Labor Statistics of the United States Department of Labor for the year before the year immediately preceding the year of adjustment or three percent, whichever is less.
Section 2. The secretary of revenue shall distribute the funds appropriated by section 1 of this Act to each county to replace the state inheritance tax revenue. The amount distributed to each county shall be proportional to the average annual inheritance tax revenue received by each
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF SOUTH DAKOTA:
Section 1. There is hereby appropriated each fiscal year from the general fund the sum of two million eight hundred seventy-two thousand four hundred sixty-four dollars ($2,872,464) which shall be increased annually by an index factor, or so much thereof as may be necessary, to the Department of Revenue for distribution to the counties to replace the inheritance tax revenue pursuant to section 2 this Act. The index factor is the annual percentage change in the consumer price index for wage earners and clerical workers as computed by the Bureau of Labor Statistics of the United States Department of Labor for the year before the year immediately preceding the year of adjustment or three percent, whichever is less.
Section 2. The secretary of revenue shall distribute the funds appropriated by section 1 of this Act to each county to replace the state inheritance tax revenue. The amount distributed to each county shall be proportional to the average annual inheritance tax revenue received by each
county during state fiscal years 1998 to 2000, inclusive, to the total annual average inheritance
tax revenue received by all counties during the state fiscal years 1998 to 2000, inclusive.
Section
3.
The secretary of revenue shall approve vouchers and the state auditor shall draw
warrants to pay expenditures authorized by this Act. Funds shall be distributed to each county
in equal installments on or about last day of October and April of each fiscal year.
Section
4.
Any amounts appropriated in this Act not lawfully expended or obligated shall
revert in accordance with
§
4-8-21.
