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.
S.D. Codified Laws § 11-9-25
Allocation to municipality of tax increments--Duration of allocation
Applied in 2 court decisions — leading case Deadwood Stage Run, LLC v. South Dakota Department of Revenue (2014)
Most recently applied in Deadwood Stage Run, LLC v. South Dakota Department of Revenue (December 2014)
Source: SL 1978, ch 91, § 16; SL 1989, ch 125, § 2; SL 2011, ch 73, § 7; SL 2018, ch 70, § 27.
Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.