Printer FriendlyHB 1060 provide certain tax refunds for new or expanded wind energy fa...
ENTITLED, An Act to provide certain tax refunds for new or expanded wind energy facilities.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF SOUTH DAKOTA:
Section 1. That chapter 10-45B be amended by adding thereto a NEW SECTION to read as
For the purposes of this chapter, the term, wind energy facility, means:
(1) Any new facility, or facility expansion, consisting of a commonly managed integrated
system of towers, wind turbine generators with blades, power collection systems, and
electric interconnection systems, that converts wind movement into electricity;
(2) Any new or upgraded electric transmission line and associated facilities; or
(3) Any new business facility that manufactures, assembles, or distributes wind or
Section 2. That chapter 10-45B be amended by adding thereto a NEW SECTION to read as
Notwithstanding any provision of chapter 10-45B or section 8 of SB 195 as previously enacted
by the Eighty-fifth Legislature, this section controls the amount of refunds payable under chapter
10-45B for any new business facility that is a wind energy facility and has a construction date on or
after January 1, 2010. For project costs incurred and paid from July 1, 2010, to December 31, 2012,
inclusive, the amount of the refund shall be determined by applying the provisions of chapter 10-45B
in effect on July 1, 2010. The amount of the tax refund for a wind energy facility shall be a
percentage of the taxes paid, as follows:
(1) For project costs of less than ten million dollars, there shall be no refund;
(2) For project costs of ten or more million dollars but less than forty million dollars, there
shall be a refund of forty-five percent of the taxes paid; and
(3) For project costs of forty or more million dollars, there shall be a refund of fifty-five
percent of the taxes paid.
No tax refund may be given for any project cost incurred and paid on or after January 1, 2013,
except for performance retainage amounts, not to exceed ten percent, related to the project.
An Act to provide certain tax refunds for new or expanded wind energy facilities.
I certify that the attached Act
originated in the
HOUSE as Bill No. 1060
Speaker of the House
President of the Senate
Secretary of the Senate
House Bill No. 1060
File No. ____
Chapter No. ______
Received at this Executive Office
this _____ day of _____________ ,
20____ at ____________ M.
for the Governor
The attached Act is hereby
approved this ________ day of
______________ , A.D., 20___
STATE OF SOUTH DAKOTA,
Office of the Secretary of State
Filed ____________ , 20___
at _________ o'clock __ M.
Secretary of State
Asst. Secretary of State