South Dakota § 11-9-1 Definition of terms.

South Dakota Statutes

§ 11-9-1 — Definition of terms.

South Dakota·Title 11 PLANNING, ZONING AND HOUSING PROGRAMS·Ch. 11-8 TAX INCREMENT FINANCING DISTRICTS

Terms used in this chapter mean:

(1)"Department," the Department of Revenue;

(2)"District," a tax increment financing district;

(3)"Governing body," the board of trustees, the board of commissioners, the board of county commissioners, or the common council of a municipality;

(4)"Grant," the transfer of money or property to a transferee for a governmental purpose that is not a related party to or an agent of the political subdivision;

(5)"Planning commission," a planning commission created under chapters 11-2 or 11-6 , a planning committee of a governing body of a political subdivision that does not have a planning commission, or the governing body of a political subdivision that does not have a planning commission or planning committee;

(6)"Political subdivision," a

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Terms used in this chapter mean: (1) "Department," the Department of Revenue; (2) "District," a tax increment financing district; (3) "Governing body," the board of trustees, the board of commissioners, the board of county commissioners, or the common council of a municipality; (4) "Grant," the transfer of money or property to a transferee for a governmental purpose that is not a related party to or an agent of the political subdivision; (5) "Planning commission," a planning commission created under chapters 11-2 or 11-6 , a planning committee of a governing body of a political subdivision that does not have a planning commission, or the governing body of a political subdivision that does not have a planning commission or planning committee; (6) "Political subdivision," a municipality, as defined in § 11-6-1 , or county of this state; (7) "Project plan," the properly approved plan for the development or redevelopment of a tax increment financing district including all properly approved amendments to the plan; (8) "Tax increment financing district," a contiguous geographic area within a political subdivision defined and created by resolution of the governing body; (9) "Taxable property," all real and personal taxable property located in a tax increment financing district; (10) "Tax increment valuation," the total value of the tax increment financing district minus the tax increment base as determined pursuant to § 11-9-19 .

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Legislative History

SL 1978, ch 91, § 1; SL 1991, ch 114, § 1; SL 1992, ch 60, § 2; SL 1996, ch 69, § 16; SL 2003, ch 272 (Ex. Ord. 03-1), § 82; SL 2011, ch 1 (Ex. Ord. 11-1), § 161, eff. Apr. 12, 2011; SL 2011, ch 73, § 1; SL 2018, ch 70, § 7; SL 2024, ch 45, § 1.