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SD HB1247

Bill

Official Source

Status

Introduced

2/2/2026

Primary Sponsor

Scott Moore

Click for details

Origin

House of Representatives

2026 Regular Session

AI Summary

  • Reduces the threshold for tax increment financing (TIF) district base redetermination from 35% to 15% of additional project costs above the original plan amount
  • Municipalities amending a TIF project plan with additional costs exceeding 15% of the original approved amount must now recalculate the tax increment base
  • Additional project costs at or below 15% of the original plan remain exempt from base redetermination requirements, provided costs are incurred before the district's expiration period
  • Amends South Dakota Codified Law § 11-9-23 governing TIF district amendments

Legislative Description

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

Planning, Zoning and Housing Programs

Last Action

Taxation Tabled, Passed, YEAS 12, NAYS 0.

2/17/2026

Committee Referrals

Taxation2/2/2026

Full Bill Text

No bill text available