AN ACT
ENTITLED, An Act to revise certain provisions concerning the property tax exemption provided to
local industrial development corporations.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF SOUTH DAKOTA:
Section 1. That § 10-4-8.1 be amended to read:
10-4-8.1. Seven hundred fifty thousand dollars of the full and true value of the total amount of real property or portion thereof owned by a local industrial development corporation defined pursuant to § 5-14-23 is exempt from property taxation. The full and true value of the real property that is in excess of seven hundred fifty thousand dollars shall be taxed as other property of the same class is taxed. No real property located in a tax incremental district, created pursuant to chapter 11-9, may receive a property tax exemption pursuant to this section.
An Act to revise certain provisions concerning the property tax exemption provided to local industrial development corporations.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF SOUTH DAKOTA:
Section 1. That § 10-4-8.1 be amended to read:
10-4-8.1. Seven hundred fifty thousand dollars of the full and true value of the total amount of real property or portion thereof owned by a local industrial development corporation defined pursuant to § 5-14-23 is exempt from property taxation. The full and true value of the real property that is in excess of seven hundred fifty thousand dollars shall be taxed as other property of the same class is taxed. No real property located in a tax incremental district, created pursuant to chapter 11-9, may receive a property tax exemption pursuant to this section.
An Act to revise certain provisions concerning the property tax exemption provided to local industrial development corporations.
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I certify that the attached Act originated in the
HOUSE as Bill No. 1150
____________________________
Chief Clerk ____________________________
Speaker of the House
Attest:
____________________________
Chief Clerk
____________________________
Attest:
____________________________
Secretary of the Senate
House Bill No. 1150 File No. ____ Chapter No. ______ |
Received at this Executive Office this _____ day of _____________ ,
20____ at ____________ M.
By _________________________
for the Governor
The attached Act is hereby
approved this ________ day of
______________ , A.D., 20___
____________________________
Governor STATE OF SOUTH DAKOTA, ss.
Office of the Secretary of State
Filed ____________ , 20___
____________________________ Secretary of State
By _________________________ |
