Add Notes

State of South Dakota  
EIGHTIETH SESSION
LEGISLATIVE ASSEMBLY,  2005
 

960L0527  
SENATE BILL   NO.     160  

Introduced by:     Senators Kloucek, Bartling, Koetzle, Kooistra, Moore, Napoli, and Peterson (Jim) and Representatives Gassman, Bradford, Dennert, Elliott, Haley, Jensen, Lange, McCoy, Miles, Street, and Valandra  



         FOR AN ACT ENTITLED, An Act to  exempt certain energy production facilities from property taxation for a certain period of time.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF SOUTH DAKOTA:
     Section  1.  That chapter 10-4 be amended by adding thereto a NEW SECTION to read as follows:
     Any commercial power production facility, utilizing coal or any renewable resources, such as sun, wind, geothermal, or biomass, that begins construction after June 30, 2005, and will produce more than ten megawatts of electricity as measured by nameplate rating, is exempt from property taxation for a period of two years or until the facility is operational, whichever occurs last. This exemption only applies to new buildings and structures and does not apply to the land or any buildings or structures that existed at the beginning of construction. The assessed valuation of the property may not be less than the assessed valuation of the property in the year preceding the beginning of construction. This section does not prohibit any county from applying a discretionary formula providing additional property tax abatements as permitted by statute.


300 copies of this document were printed by the South Dakota
Legislative Research Council at a cost of $.029 per page.
 
.   Insertions into existing statutes are indicated by underscores.
Deletions from existing statutes are indicated by overstrikes.