Updates tax increment financing districts in South Dakota to clarify boundaries, valuation, and fiscal feasibility reviews.

The bill amends South Dakota's tax increment financing districts by specifying that district boundaries must not split a whole unit of property used for a single purpose. It mandates that a fiscal feasibility review must be conducted by a municipal advisor, certified public accountant, or an independent third-party reviewer with experience in municipal finance. The review must be completed and submitted to the governing body and the public before the district is approved.

Updates tax increment financing districts in South Dakota to clarify boundaries, valuation, and fiscal feasibility reviews.

The bill amends South Dakota's tax increment financing districts by specifying that district boundaries must not split a whole unit of property used for a single purpose. It mandates that a fiscal feasibility review must be conducted by a municipal advisor, certified public accountant, or an independent third-party reviewer with experience in municipal finance. The review must be completed and submitted to the governing body and the public before the district is approved.