S.D. Codified Laws § 10-12-45

Current through the 2024 Legislative Session

Section 10-12-45 - Pipeline surcharge for carbon dioxide pipelines-Remittance-Distribution

A county may impose a pipeline surcharge up to one dollar per linear foot of carbon dioxide pipeline installed in the county, during any tax year that the carbon dioxide pipeline company claims a tax credit pursuant to 26 U.S.C. § 45Q (January 1, 2024).

For each county where a carbon dioxide pipeline company has installed a pipeline, the company shall report to the county the linear footage of carbon dioxide pipeline installed in the county.

A carbon dioxide pipeline company shall remit the pipeline surcharge to each applicable county in the same manner as provided for the payment of property taxes in chapter 10-21. The revenue derived from the pipeline surcharge must be distributed as follows:

(1) At least fifty percent as tax relief for property in the county where the carbon dioxide pipeline is located pro rata on a per foot basis to each property in the county upon which the pipeline is installed; and

(2) The remaining revenue to be allocated as determined by the county.

SDCL 10-12-45

SL 2024, ch 189, §2.

Added by S.L. 2024, ch. 189,s. 2, eff. 7/1/2024.