HB 1218
create a new class of nonagricultural property for purposes of taxation, and to provide a penalty therefor.
Take action
Record your position on this measure.
Sign in to record your position, submit testimony, or contact your legislator.
Sign in to take action- Introduced
- Passed House
- Passed Senate
- To Governor
- Became Law
Bill overview
This bill creates a new category of nonagricultural property called ‘commercial-operator nonagricultural property’ for South Dakota taxation. It defines key terms like ‘ownership holder,’ ‘family business,’ and ‘material participation’ to determine eligibility for this classification. Property owners can apply to reclassify their property annually, and the director will review these applications. If an application is approved, the property is classified as commercial-operator nonagricultural property for the following tax year. However, if an application is knowingly false, a penalty of $2,500 per year may be assessed, and if negligently false, a penalty of $500 per year may be assessed. The bill also adjusts school district tax levies, requiring a minimum 25% reduction in levies for commercial-operator nonagricultural property starting in 2028.
Sponsors
Official sponsors from legislative records.
Primary sponsor
Cosponsors
Kathy Rice
Arguments in favor
Reasons to support this legislation.
No arguments in favor have been submitted.
Submit yoursArguments opposed
Reasons to oppose this legislation.
No arguments opposed have been submitted.
Submit yoursRead the latest version inline or switch to a previous version.