Section 10-35-1.9 - Exemption for coal-fired power plant performing environmental upgrade--Allocationof exemption. - South-dakota Statutes

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10-35-1.9. Exemption for coal-fired power plant performing environmental upgrade--Allocation of exemption. The first year after the environmental upgrade, the original cost of the environmental upgrade, as reported to the agency regulating the coal-fired power plant, is exempt from ad valorem taxation. In the second and subsequent years after the environmental upgrade, the depreciated cost of the environmental upgrade, as reported to the agency regulating the coal-fired power plant, is exempt from ad valorem taxation.
This exemption shall be allocated proportionately, based upon percentage ownership of the coal-fired power plant. However, no coal-fired power plant may have its assessed valuation reduced below its valuation for the year preceding the first year it received this exemption.

Source: SL 2006, ch 44, § 3.

State Codes and Statutes

Statutes > South-dakota > Title-10 > Chapter-35 > Statute-10-35-1-9

10-35-1.9. Exemption for coal-fired power plant performing environmental upgrade--Allocation of exemption. The first year after the environmental upgrade, the original cost of the environmental upgrade, as reported to the agency regulating the coal-fired power plant, is exempt from ad valorem taxation. In the second and subsequent years after the environmental upgrade, the depreciated cost of the environmental upgrade, as reported to the agency regulating the coal-fired power plant, is exempt from ad valorem taxation.
This exemption shall be allocated proportionately, based upon percentage ownership of the coal-fired power plant. However, no coal-fired power plant may have its assessed valuation reduced below its valuation for the year preceding the first year it received this exemption.

Source: SL 2006, ch 44, § 3.

State Codes and Statutes

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State Codes and Statutes

Statutes > South-dakota > Title-10 > Chapter-35 > Statute-10-35-1-9

10-35-1.9. Exemption for coal-fired power plant performing environmental upgrade--Allocation of exemption. The first year after the environmental upgrade, the original cost of the environmental upgrade, as reported to the agency regulating the coal-fired power plant, is exempt from ad valorem taxation. In the second and subsequent years after the environmental upgrade, the depreciated cost of the environmental upgrade, as reported to the agency regulating the coal-fired power plant, is exempt from ad valorem taxation.
This exemption shall be allocated proportionately, based upon percentage ownership of the coal-fired power plant. However, no coal-fired power plant may have its assessed valuation reduced below its valuation for the year preceding the first year it received this exemption.

Source: SL 2006, ch 44, § 3.