FOR AN ACT ENTITLED, An Act to  allow a school district to impose an excess levy for its pension fund.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF SOUTH DAKOTA:
     Section  1.  That § 10-12-43 be amended to read as follows:
     10-12-43.   The governing body of the school district may raise additional revenues for general fund or pension fund purposes only , from property tax through the imposition of an excess tax levy. The maximum excess levy for the pension fund is an amount equal to fifteen cents per thousand dollars of taxable valuation of the school district. The governing body of a school district may impose the an excess tax levy with an affirmative two-thirds vote of the governing body on or before July fifteenth of the year prior to the year the taxes are payable. The decision of the governing body to originally impose or subsequently increase an excess tax levy shall be published within ten days of the decision. The decision may be referred upon a petition signed by at least five percent of the registered voters in the school district and filed with the governing body within twenty days of the publication of the decision. The referendum election shall be held on or before October first of the year prior to the time the taxes are payable.

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350 copies of this document were printed by the South Dakota
Legislative Research Council at a cost of $.027 per page.   .   Insertions into existing statutes are indicated by underscores.
Deletions from existing statutes are indicated by overstrikes.  

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