HB 1289 updates South Dakota's tax increment financing (TIF) district rules by modifying how these districts can be created and operated. The bill revises definitions and requirements across multiple sections of state law governing TIFs, which are tools that let local governments use future property tax increases from development areas to pay for improvements in those same areas. While the full details require reviewing all amended sections, the changes appear to streamline the process and adjust what qualifies as eligible projects and funding sources for TIF districts.
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Taxation Tabled Passed, YEAS 12, NAYS 0.
Taxation Scheduled for hearing
First read in House and referred to House Taxation H.J. 220
Prime sponsor · Rep
R
Dist. HD-018
Tabled
Tabled