11-9-1. Definition of terms.Terms used in this chapter mean:(1)'Department,' the Department of Revenue;(2)'District,' a tax increment financing district;(3)'Governing body,' the board of trustees, the board of commissioners, the board of county commissioners, or the common council of a municipality;(4)'Grant,' the transfer of money or property to a transferee for a governmental purpose that is not a related party to or an agent of the political subdivision;(5)'Planning commission,' a planning commission created under chapters 11-2 or 11-6, a planning committee of a governing body of a political subdivision that does not have a planning commission, or the governing body of a political subdivision that does not have a planning commission or planning committee;(6)'Political subdivision,' a municipality, as defined in §11-6-1, or county of this state;(7)'Project plan,' the properly approved plan for the development or redevelopment of a tax increment financing district including all properly approved amendments to the plan;(8)'Tax increment financing district,' a contiguous geographic area within a political subdivision defined and created by resolution of the governing ding all properly approved amendments to the plan;(8)'Tax increment financing district,' a contiguous geographic area within a political subdivision defined and created by resolution of the governing body;(9)'Taxable property,' all real and personal taxable property located in a tax increment financing district;(10)'Tax increment valuation,' the total value of the tax increment financing district minus the tax increment base as determined pursuant to §11-9-19. Source: SL 1978, ch 91, §1; SL 1991, ch 114, §1; SL 1992, ch 60, §2; SL 1996, ch 69, §16; SL 2003, ch 272 (Ex. Ord. 03-1), §82; SL 2011, ch 1 (Ex. Ord. 11-1), §161, eff. Apr. 12, 2011; SL 2011, ch 73, §1; SL 2018, ch 70, §7; SL 2024, ch 45, §1.
South Dakota Legal Code