SB192 modifies the criteria for blight in South Dakota to create a tax increment financing district.

SB192 amends the criteria for blight in South Dakota, allowing for the creation of a tax increment financing district. The bill specifies that at least 50% of the real property within the district must be blighted or will be improved to enhance economic welfare. It removes the requirement to identify specific parcels meeting the criteria. The bill also updates the definition of "blighted area" to include conditions that impair growth, inhibit housing development, or endanger public health and safety.

SB192 modifies the criteria for blight in South Dakota to create a tax increment financing district.

SB192 amends the criteria for blight in South Dakota, allowing for the creation of a tax increment financing district. The bill specifies that at least 50% of the real property within the district must be blighted or will be improved to enhance economic welfare. It removes the requirement to identify specific parcels meeting the criteria. The bill also updates the definition of "blighted area" to include conditions that impair growth, inhibit housing development, or endanger public health and safety.