SD SB207

Tax increment financing (TIF) districts with estimated project costs exceeding $15 million require voter approval through a special election before establishment

Special elections must be held on a Tuesday between 45 and 60 days after the governing body adopts the resolution creating the district

If the resolution is adopted within 90 days of a regular, primary, or general election, the question may be placed on that ballot instead of holding a special election

Amends existing TIF district creation requirements under § 11-9-5 to make resolutions subject to the new referendum provisions