Bill > SB191

This bill amends existing South Dakota law concerning tax increment financing districts, which are designated geographic areas within a municipality or county where future increases in property tax revenue are used to fund development or redevelopment projects. Specifically, the bill removes the authorization for these districts to issue "grants," which are defined as the transfer of money or property for a governmental purpose that is not directly related to or an agent of the political subdivision. This change impacts how "project costs" are defined and funded within these districts, as the bill removes references to grants from the definitions of project costs and from provisions regarding the disbursement of funds from a special district fund and the termination of a district.

Budget and Finance

https://sdlegislature.gov/#/Session/Bill/27093