South Dakota § 1-16H-44 Property tax exemption for certain leased property in Lawrence County.

South Dakota Statutes

§ 1-16H-44 — Property tax exemption for certain leased property in Lawrence County.

South Dakota·Title 1 STATE AFFAIRS AND GOVERNMENT·Ch. 1-16H SCIENCE AND TECHNOLOGY AUTHORITY

If the authority leases land, improvements, equipment, fixtures, or other property interests in Lawrence County to an entity that:

(1)Is organized and operated on a not-for-profit basis;

(2)Is organized as a limited liability company;

(3)Has members of the limited liability company otherwise qualifying for exemption from real property taxation in the state where the entity's headquarters are located; and (4) Is organized and operated for scientific research and related educational purposes; the property and any possessory interest in the property is exempt from real property taxation.

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If the authority leases land, improvements, equipment, fixtures, or other property interests in Lawrence County to an entity that: (1) Is organized and operated on a not-for-profit basis; (2) Is organized as a limited liability company; (3) Has members of the limited liability company otherwise qualifying for exemption from real property taxation in the state where the entity's headquarters are located; and (4) Is organized and operated for scientific research and related educational purposes; the property and any possessory interest in the property is exempt from real property taxation.

South Dakota § 1-16H-44 (Property tax exemption for certain leased property in Lawrence County.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.