<html xmlns="http://www.w3.org/1999/xhtml" lang="en-US"><head><meta charset="UTF-8"><meta http-equiv='content-language' content='en-us'/><title>SDLRC - Codified Law 1-16G-59 - Factors for board review of application.</title><meta name="Generator" content="PowerTools for Open XML"><style>span { white-space: pre-wrap; } p.s2084021Normal { text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-left: 0; margin-right: 0; margin-bottom: .001pt; } span.s2084021SENU { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2084021CL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } p.s2084021Normal-000000 { text-indent: 0.50in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-left: 0; margin-right: 0; margin-bottom: .001pt; } span.s2084021DefaultParagraphFont { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } p.s2084021Normal-000001 { text-indent: 0.25in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-left: 0; margin-right: 0; margin-bottom: .001pt; } p.s2084021Normal-000002 { margin-left: 0.70in; text-indent: -0.45in; text-align: justify; font-family: 'Times New Roman', 'serif'; font-size: 12pt; line-height: 108%; margin-top: 0; margin-right: 0; margin-bottom: .001pt; } span.s2084021000003 { font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } span.s2084021SCL { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: bold; margin: 0; padding: 0; } span.s2084021SCL-000004 { font-family: 'Times New Roman', 'serif'; font-size: 12pt; font-style: normal; font-weight: normal; margin: 0; padding: 0; } body { text-decoration-skip-ink: none; } </style><meta name="viewport" content="width=device-width, initial-scale=1"><meta name="twitter:card" content="summary"><meta property="og:title" content="SD 1-16G-59 - Factors for board review of application."><meta property="og:description" content="SDLRC Codified Law 1-16G-59 - Factors for board review of application."><meta property="og:type" content="website"><meta property="og:url" content="https://sdlegislature.gov/Statutes?Statute=1-16G-59"><meta property="og:image" content="https://lawmakerdocuments.blob.core.usgovcloudapi.net/photos/logoshape.webp"><meta property="og:site_name" content="South Dakota Legislature"></head><body><div><p dir="ltr" class="s2084021Normal"><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=1-16G-59" rel="noopener"><span class="s2084021SENU">1-16G-59</span></a><span xml:space="preserve" class="s2084021SENU">. </span><span class="s2084021CL">Factors for board review of application.</span></p><p dir="ltr" class="s2084021Normal-000000"><span class="s2084021DefaultParagraphFont">The Board of Economic Development shall review an application and make a determination of whether the project is approved or disapproved. The board shall consider the likelihood that the project would have occurred without the reinvestment payment. The board may approve a reinvestment payment that is equal to or less than South Dakota sales and use tax paid on the project costs.</span></p><p dir="ltr" class="s2084021Normal-000001"><span class="s2084021DefaultParagraphFont">The board shall consider the following factors when making that determination:</span></p><p dir="ltr" class="s2084021Normal-000002"><span xml:space="preserve" class="s2084021DefaultParagraphFont">(1)    Has the county or municipality adopted a formula to reduce property taxation for the project for five years under the discretionary formula pursuant to § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=10-6-137" rel="noopener"><span class="s2084021DefaultParagraphFont">10-6-137</span></a><span class="s2084021DefaultParagraphFont">;</span></p><p dir="ltr" class="s2084021Normal-000002"><span xml:space="preserve" class="s2084021DefaultParagraphFont">(2)    Has the county or municipality approved a tax increment financing district pursuant to chapter </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=11-9" rel="noopener"><span class="s2084021DefaultParagraphFont">11-9</span></a><span xml:space="preserve" class="s2084021DefaultParagraphFont"> for the area where the project will be located;</span></p><p dir="ltr" class="s2084021Normal-000002"><span xml:space="preserve" class="s2084021DefaultParagraphFont">(3)    Has the municipality approved a municipal sales tax refund pursuant § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=10-52-10" rel="noopener"><span class="s2084021DefaultParagraphFont">10-52-10</span></a><span class="s2084021DefaultParagraphFont">;</span></p><p dir="ltr" class="s2084021Normal-000002"><span class="s2084021DefaultParagraphFont">(4)    Economic activity that may occur in the community, area, and state; and</span></p><p dir="ltr" class="s2084021Normal-000002"><span xml:space="preserve" class="s2084021DefaultParagraphFont">(5)    Criteria established by rules promulgated pursuant to § </span><a href="https://sdlegislature.gov/Statutes/Codified_Laws/DisplayStatute.aspx?Type=Statute&amp;Statute=1-16G-67" rel="noopener"><span class="s2084021DefaultParagraphFont">1-16G-67</span></a><span class="s2084021DefaultParagraphFont">.</span></p><p dir="ltr" class="s2084021Normal"><span xml:space="preserve" class="s2084021000003"> </span></p><p dir="ltr" class="s2084021Normal"><span class="s2084021SCL">Source:</span><span xml:space="preserve" class="s2084021SCL-000004"> SL 2013, ch 7, § 27, eff. Mar. 20, 2013; SL 2018, ch 70, § 46; SL 2021, ch 44, § 44.</span></p></div></body></html>