lower the cost threshold at which a tax increment finance base must be redetermined.

Plain English Breakdown

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

lower the cost threshold at which a tax increment finance base must be redetermined.

lower the cost threshold at which a tax increment finance base must be redetermined.

What This Bill Does

• lower the cost threshold at which a tax increment finance base must be redetermined.
• Official keyword topics: Planning, Zoning and Housing Programs Tax Increment Financing Districts Official sponsor note: Representatives <a rel="noopener" href="https://sdlegislature.gov/Legislators/Profile/4789/Detail">Moore</a> (prime) and <a rel="noopener" href="https://sdlegislature.gov/Legislators/Profile/4734/Detail">Aylward</a> and Senator <a rel="noopener" href="https://sdlegislature.gov/Legislators/Profile/4763/Detail">Howard</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

lower the cost threshold at which a tax increment finance base must be redetermined.
Official keyword topics:
Planning, Zoning and Housing Programs
Tax Increment Financing Districts
Official sponsor note: Representatives <a rel="noopener" href="https://sdlegislature.gov/Legislators/Profile/4789/Detail">Moore</a> (prime) and <a rel="noopener" href="https://sdlegislature.gov/Legislators/Profile/4734/Detail">Aylward</a> and Senator <a rel="noopener" href="https://sdlegislature.gov/Legislators/Profile/4763/Detail">Howard</a>

Current Bill Text

26.793.14 101st Legislative Session 1247

2026 South Dakota Legislature
House Bill 1247

Introduced by: Representative Moore

Underscores indicate new language.
Overstrikes indicate deleted language.
An Act to lower the cost threshold at which a tax increment finance base must be 1
redetermined. 2
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF SOUTH DAKOTA: 3
Section 1. That § 11-9-23 be AMENDED: 4
11-9-23. If Except as provided in this section, if the municipality adopts an 5
amendment to the original project plan for any district that includes additional project 6
costs for which tax increments may be received by the municipality, the tax increment 7
base for the district shall must be redetermined pursuant to § 11-9-20. The tax increment 8
base as redetermined under this section is effective for the purposes of this chapter only 9
if it exceeds the original tax increment base determined pursuant to § 11-9-20. 10
The provisions of this section do not apply if the additional project costs are thirty-11
five fifteen percent or less than the amount approved in the original project plan and the 12
additional project costs will are to be incurred before the expiration of the period specified 13
in § 11-9-13. 14