P - Present
E - Excused
A - Absent
Roll Call
P Duenwald
P Hansen (Tom)
P Hundstad
P Kelly
E Kooistra
P Nesselhuf
P Peterson (Jim)
P Lintz, Vice-Chair
P Knudson, Chair
OTHERS PRESENT: See Original Minutes
The meeting was called to order by Chair Knudson.
MOTION:
TO APPROVE THE MINUTES OF FEBRUARY 17, 2006
Moved by: Duenwald
Second by: Hundstad
Action: Prevailed by voice vote.
HB 1009: create additional classifications of agricultural property and to revise
certain provisions concerning the taxation of certain agricultural property.
Proponents: Michael Kenyon, Department of Revenue and Regulation
Representative Larry Rhoden
Senator Kenneth McNenny
Opponents: Ronald Olinger, SD Corn Growers Assn.
Previous testimony was heard on HB 1009 at the February 17, 2006, committee meeting.
"
Section 1. That
§
10-6-33.25
be amended to read as follows:
10-6-33.25.
For the purposes of § 10-6-33.24, the agricultural income value shall be determined
using capitalized annual cash rent. The annual cash rent is the annual cash rent, excluding the per
acre tax on agricultural land, determined through an analysis of arms-length rental agreements
collected within the county in the
three years
year
prior to the year for which the agricultural income
value is being determined.
The agricultural income value of cropland shall be based on average rents
over a three-year period for cropland under natural conditions. The agricultural income value of
noncropland shall be based on average rents over a three-year period for noncropland under natural
conditions.
However, no arms-length rental agreements for irrigated land may be used to determine
the annual cash rent pursuant to this section. The annual cash rent shall be capitalized at seven and
three-fourths percent.
Moved by: Kelly
Second by: Lintz
Action: Prevailed by voice vote.
MOTION:
DO PASS HB 1128 AS AMENDED
Moved by: Lintz
Second by: Nesselhuf
Action: Prevailed by roll call vote.(5-3-1-0)
Voting Yes: Kelly, Nesselhuf, Peterson (Jim), Lintz, Knudson
Voting No: Duenwald, Hansen (Tom), Hundstad
Excused: Kooistra
MOTION:
TO AMEND TITLE OF HB 1128
Moved by: Kelly
Second by: Nesselhuf
Action: Prevailed by voice vote.
MOTION:
TO JOIN THE HOUSE TAXATION COMMITTEE IN SUGGESTING A
SUMMER STUDY REGARDING THE TAXATION ON THE
TELECOMMUNICATIONS INDUSTRY.
Moved by: Kelly
Second by: Hansen (Tom)
Action: Prevailed by voice vote.
MOTION:
ADJOURN
Moved by: Nesselhuf
Second by: Duenwald
Action: Prevailed by voice vote.
Cindy Tryon