South Dakota counties and municipalities currently can only use up to three years of accumulated unused property tax growth (the "index factor") when increasing their revenue in a given year. This bill eliminates that three-year limit, allowing them to accumulate and use unused index factor from any prior years, not just the previous three years. The change gives local governments more flexibility to increase property tax revenue based on growth they didn't previously use.
AI-generated summary
House of Representatives Placed on calendar pursuant to JR 6F-6 Failed, YEAS 34, NAYS 33. H.J. 386
Taxation Report out of committee without recommendation Passed, YEAS 7, NAYS 4. H.J. 9
Taxation Do Pass Failed, YEAS 5, NAYS 6. H.J. 9
Taxation Scheduled for hearing
House of Representatives Referred to House Taxation H.J. 237
First Reading House H.J. 220
Prime sponsor · Rep
R
Dist. HD-028
cosponsor · Rep
R
Dist. HD-034
cosponsor · Rep
R
Dist. HD-028
cosponsor · Rep
R
Dist. HD-005
cosponsor · Rep
R
Dist. HD-018
cosponsor · Rep
R
Dist. HD-033
cosponsor · Rep
R
Dist. HD-014
Placed on calendar pursuant to JR 6F-6
Do Pass
Referred to
Report out of committee without recommendation
Do Pass