P - Present
Roll Call
OTHERS PRESENT: See Original Minutes
The meeting was called to order by Chair, Senator Tom Hansen.
MOTION:
TO APPROVE THE MINUTES OF FRIDAY, FEBRUARY 20, 2009
E - Excused
A - Absent
P Adelstein
P Fryslie, Vice-Chair
P Howie
P Jerstad
P Maher
P Merchant
P Nelson
P Peterson
P Hansen (Tom), Chair
Moved by: Nelson
Second by: Fryslie
Action: Prevailed by voice vote.
HB 1215: transfer funds from the tax relief fund to the general fund and to revise
certain provisions concerning the effective date of the collection allowance.
Presented by: Representative Ryan Olson (Handout #1)
Shawn Lyons, SD Retailers and Senator Tom Dempster answered some questions
MOTION:
AMEND HB 1215
"
Section 3. That
§
10-45C-14
be amended to read as follows:
10-45C-14.
There is hereby created in the state treasury the tax relief fund. The revenue collected
pursuant to § 10-45C-15 shall be deposited in the tax relief fund for the purpose of reducing the rate
of taxation or reducing property taxes. The fund shall be invested as provided by law, and the interest
earned shall be credited to the fund. The Legislature may not appropriate any money from the tax
relief fund until the second fiscal year after Congress approves legislation giving states the authority
to require retailers to collect South Dakota's sales and use tax.
However, until that time, all moneys
in the tax relief fund shall be transferred to the state general fund before the final day of each yearly
quarter.
".
"
Section 17. Any retailer required to file a return and remit the tax imposed by chapter 10-45 who
sells any item defined as food pursuant to subdivision 10-45-1(5) shall report the gross receipts from
the sale of food when the retailer files its return with the department. Within ninety days after the
return is filed, the department shall distribute an amount of money to each municipality that imposes
a tax pursuant to chapter 10-52. The amount of money distributed to each municipality shall be equal
to the gross receipts from the sale of food in the municipality times the rate of taxation imposed by
the municipality pursuant to chapter 10-52.
Section 18. Any retailer required to file a return and remit the tax imposed by chapter 10-46 who
uses any item defined as food pursuant to subdivision 10-46-1(5) shall report the gross receipts from
the use of food when the retailer files its return with the department. Within ninety days after the
return is filed, the department shall distribute an amount of money to each municipality that imposes
a tax pursuant to chapter 10-52. The amount of money distributed to each municipality shall be equal
to the gross receipts from the use of food in the municipality times the rate of taxation imposed by
the municipality pursuant to chapter 10-52.
Section 19. Within ninety days after the return is filed pursuant to sections 17 and 18 of this Act,
the department shall distribute an amount of money to each Indian tribe that has entered into a tax
collection agreement that covers sales and use tax. The amount of money distributed to each Indian
tribe shall be equal to the gross receipts from the sales and use of food in the area defined by the tax
collection agreement times the percentage of such taxes remitted to the tribe times four percent.".
Lois Henry