ENTITLED, An Act to
revise certain provisions relating to the taxes electric cooperatives pay to
certain municipalities.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF SOUTH DAKOTA:
Section
1.
That
§
49-34A-45
be amended to read as follows:
49-34A-45.
A rural electric cooperative serving less than a majority of customers in a
municipality
not having
which does not have
a municipally owned system, may, at the option of
the municipality, pay in addition to other taxes provided by law, an amount
each and every year
equal to two percent of the total gross revenues received by the cooperative for that year
to be
agreed upon, not to exceed two percent of the total gross revenue collected by the rural electric
cooperative for that year, by the electric supplier and the governing body of the municipality. If the
parties have not agreed on the amount on or before May first following the calendar year from
which the amount is to be paid, the amount to be paid shall be two percent of the total gross
revenue collected by the rural electric cooperative
from the sale of power distributed to structures
and electric service outlets situated within the municipality.