Home > 2015 SD Legislative Session > Senate Tax has three bills on Weds Feb 4

Senate Tax has three bills on Weds Feb 4

February 3, 2015

1339842689On Wednesday, February 4th, at 10:00 AM the SD Senate Taxation committee will take on 3 bills.

SB 100 – SoDakLiberty Posts – Create a leased residential property classification and to establish the school district general fund levy for the property classification.

Sen Deb Peters (R, Dist 9) and Rep Don Haggar (R, Dist 10) are the prime sponsors. This bill would remove the classification non-agricultural acreage and create a new property tax classification of leased residential property. The key reason for this bill appears to be found in the following sentence:

The maximum tax levy for a leased residential property as defined in section 1 of this Act for such school district shall be nine dollars and ten and six tenths cents per thousand dollars of taxable valuation.

Is this a way to try getting more money to school districts? I’ll have to listen to the testimony to be sure I’m understand this bill correctly.

SB 102 – SoDakLiberty Posts – Revise certain provisions that dedicate property tax revenue for the financing of tax incremental districts.

Sen Jason Frerichs (D, Dist 1) and Rep Dennis Feickert (D, Dist 1) are the prime sponsors. This is another one I’ll have to listen to testimony on, its just an area I don’t have enough experience with yet.

SB 136 SoDakLiberty Posts – Exclude municipal sales and use taxes from the gross receipts used to determine the tax liability of electric cooperatives.

Sen Corey Brown (R, Dist 23) and Rep Al Novstrup (R, Dist 3) are the prime sponsors. If I am reading this correctly it appears to be a good law. It prevents a tax from being taxed.

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