provide for compensation to counties for administering tax increment financing districts created by a municipality.

Plain English Breakdown

Using official source text because the generated explanation was unavailable or could not be confirmed against the official bill text.

provide for compensation to counties for administering tax increment financing districts created by a municipality.

provide for compensation to counties for administering tax increment financing districts created by a municipality.

What This Bill Does

• provide for compensation to counties for administering tax increment financing districts created by a municipality.
• Official keyword topics: Counties Municipal Government Planning, Zoning and Housing Programs Tax Increment Financing Districts Official sponsor note: Representatives <a rel="noopener" href="https://sdlegislature.gov/Legislators/Profile/4796/Detail">Novstrup</a> (prime), <a rel="noopener" href="https://sdlegislature.gov/Legislators/Profile/4789/Detail">Moore</a>, and <a rel="noopener" href="https://sdlegislature.gov/Legislators/Profile/4816/Detail">Schaefbauer</a> and Senators <a rel="noopener" href="https://sdlegislature.gov/Legislators/Profile/4794/Detail">Nelson</a> (prime) and <a rel="noopener" href="https://sdlegislature.gov/Legislators/Profile/4800/Detail">Perry</a>

Limits and Unknowns

• This entry is temporarily using official source text because the generated explanation could not be confirmed against the official bill text during the last sync.

Official Summary Text

provide for compensation to counties for administering tax increment financing districts created by a municipality.
Official keyword topics:
Counties
Municipal Government
Planning, Zoning and Housing Programs
Tax Increment Financing Districts
Official sponsor note: Representatives <a rel="noopener" href="https://sdlegislature.gov/Legislators/Profile/4796/Detail">Novstrup</a> (prime), <a rel="noopener" href="https://sdlegislature.gov/Legislators/Profile/4789/Detail">Moore</a>, and <a rel="noopener" href="https://sdlegislature.gov/Legislators/Profile/4816/Detail">Schaefbauer</a> and Senators <a rel="noopener" href="https://sdlegislature.gov/Legislators/Profile/4794/Detail">Nelson</a> (prime) and <a rel="noopener" href="https://sdlegislature.gov/Legislators/Profile/4800/Detail">Perry</a>

Current Bill Text

26.80.12 101st Legislative Session 1074

2026 South Dakota Legislature
House Bill 1074

Introduced by: Representative Novstrup

Underscores indicate new language.
Overstrikes indicate deleted language.
An Act to provide for compensation to counties for administering tax increment 1
financing districts created by a municipality. 2
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF SOUTH DAKOTA: 3
Section 1. That § 11-9-25 be AMENDED: 4
11-9-25. Positive Except as provided in this section, positive tax increments of a 5
district shall must be allocated to the municipality political subdivision that created the 6
district for each year from the date when the district is created until the municipality 7
political subdivision has been reimbursed for expenditures previously made, has paid all 8
monetary obligations, and has retired all outstanding tax increment bonds. However, in 9
no event may the The positive tax increments may not be allocated longer than twenty 10
years after the calendar year of the district's creation. 11
A county may withhold, from positive tax increments of a district created by a 12
municipality, an amount no greater than the cost incurred by the county in administering 13
the district. 14
Section 2. That § 11-9-31 be AMENDED: 15
11-9-31. The county treasurer or municipal finance officer, as applicable, shall 16
deposit all remaining tax increments received in a district into a special fund for the 17
district, after deducting an amount equal to the cost incurred by the county in 18
administering the district. 19
The county treasurer or municipal finance officer, as applicable, may deposit 20
additional moneys into the fund pursuant to an appropriation by the governing body. 21
Subject to any agreement with bondholders, moneys in the fund may be temporarily 22
invested in the same manner as other funds of the political subdivision. 23