CHAPTER 249

(SB 78)

Electric cooperatives, taxes paid to municipalities revised.


         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.

     Signed March 2, 2005
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