Amends reinvestment payment program for approved projects in South Dakota.
The bill modifies the reinvestment payment program in South Dakota, affecting projects approved for such payments. It requires the Department of Revenue to deposit sales and use taxes into a fund for reinvestment payments. The bill mandates that project owners file an affidavit for reinvestment payment with the Governor's Office of Economic Development (GOED) within six months of project completion. It also exempts gross receipts from certain taxes for approved projects.
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