South Dakota § 11-9-25 Allocation to municipality of tax increments--Duration of allocation.

South Dakota Statutes

§ 11-9-25 — Allocation to municipality of tax increments--Duration of allocation.

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

Positive tax increments of a district shall be allocated to the municipality that created the district for each year from the date when the district is created until the municipality has been reimbursed for expenditures previously made, has paid all monetary obligations, and has retired all outstanding tax increment bonds. However, in no event may the positive tax increments be allocated longer than twenty years after the calendar year of creation.

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Positive tax increments of a district shall be allocated to the municipality that created the district for each year from the date when the district is created until the municipality has been reimbursed for expenditures previously made, has paid all monetary obligations, and has retired all outstanding tax increment bonds. However, in no event may the positive tax increments be allocated longer than twenty years after the calendar year of creation.

South Dakota § 11-9-25 (Allocation to municipality of tax increments--Duration of allocation.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.