An Act to eliminate a limit on the accumulation of the unused index factor for property taxation.

Be it enacted by the Legislature of the State of South Dakota:

Section 1. That § 10-13-35.4 be AMENDED:

10-13-35.4. For taxes payable in the year 2003 and each year thereafter, the The county auditor shall calculate what the maximum amount of revenue payable that the county or municipality may request, based on growth and the index factor pursuant to § 10-13-35. The calculation shall must also show any accumulative percent of the unused index factor not used accumulated since 2024 by the county or municipality. This calculation shall exclude excludes the levy pursuant to § 10-13-36.

Section 2. That § 10-13-35.5 be AMENDED:

10-13-35.5. The A county or municipality may increase the total amount of revenue payable from taxes on real property in any year up to the maximum amount calculated in accordance with § 10-13-35.4 utilizing any accumulated unused index factor from the prior three years. However, such an amount may not exceed the prior three year index factor total or ten percent, whichever is less.