Tax refund program definition
for expansion of an existing building revised.
ENTITLED, An Act to
define expansion of an existing building or structure for purposes of the
tax refund program for the construction of agricultural processing and new business facilities.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF SOUTH DAKOTA:
be amended by adding thereto a NEW SECTION to read as
For the purposes of this chapter, to qualify for the refund, the expansion of an existing building
or structure shall meet the following criteria:
(1) The expansion shall significantly increase the floor space of an existing building or an
existing structure; and
(2) The expansion shall consist of a single project rather than an ongoing, systematic
process of upgrading, retooling, or modernizing the existing building or structure.
Signed February 21, 2007