10-35-1.10. Promulgation of rules on environmental upgrade exemption.

The secretary of the Department of Revenue may promulgate rules, pursuant to chapter 1-26, concerning this exemption to:

(1)    Specify the real and personal property that makes up an environmental upgrade;

(2)    Determine the original and depreciated cost of the environmental upgrade;

(3)    Establish a procedure to calculate the effect of the exemption upon the assessed value of the coal-fired power plant; and

(4)    Allocate the exemption between the ownership of the coal-fired power plant.

Source: SL 2006, ch 44, § 4; SL 2011, ch 1 (Ex. Ord. 11-1), § 161, eff. Apr. 12, 2011.

Commission Note: This section is repealed effective January 1, 2046 pursuant to SL 2013, ch 51, § 2.