11-7-73. Exempt housing project to make payments in lieu of taxes--Annual statement--Percentage of rentals to be paid--Distribution of payments to governmental units.
Notwithstanding the provisions of §11-7-72, any housing project of the commission that has become occupied, either in whole or in part, and is exempt from taxation pursuant to §11-7-72 shall make payments in lieu of taxes. The commission shall file with the proper director of equalization, on or before May first of each year, a statement of the dwelling unit rentals of that project collected during the preceding calendar year. Unless a greater amount is permitted pursuant to federal legislation and has been agreed upon between the commission and the municipality or the county which created the commission, five percent of the revenue from the dwelling unit rentals shall be charged to the commission as payments in lieu of taxes. The payments in lieu of taxes shall be distributed to all of the appropriate governmental units in the area of operation in such proportions that each governmental unit will receive from the payments the same proportion as it would if property taxes were paid. However, no payments in lieu of taxes shall exceed the amounts which would be payable in property taxes on the project if the project was not exempt from taxation. The term, dwelling unit rental, means the total revenue collected for rentals of residential dwelling units. The term, dwelling unit rental, does not include any revenue from other income, fees, or services that may be received by the commission. The records of each housing project shall be open to inspection by the director of equalization.
Source: SL 1950 (SS), ch 13, §28; SDC Supp 1960, §45.3628 (2); SL 1968, ch 186, §11; SL 2010, ch 72, §1.
Structure South Dakota Codified Laws
Title 11 - Planning, Zoning and Housing Programs
Chapter 07 - County And Municipal Housing And Redevelopment
Section 11-7-1 - Definition of terms.
Section 11-7-2 - "Slum area" defined.
Section 11-7-3 - "Blighted area" defined.
Section 11-7-4 - "Housing project" defined.
Section 11-7-5 - "Redevelopment project" defined.
Section 11-7-6 - "Redevelopment plan" defined--Purposes of plan.
Section 11-7-7.1 - Joint agreements between municipal and county commissions.
Section 11-7-8 - Factors considered in determining adequacy of dwelling accommodations.
Section 11-7-11 - Composition of commission--Certain public officers and employees ineligible.
Section 11-7-12 - Appointment and terms of commissioners--Vacancies.
Section 11-7-13 - Tenure of commissioners--Certificate of appointment.
Section 11-7-15 - Quorum of commission--Officers--Rules--Meetings open to public.
Section 11-7-16 - Expenses of commissioners--Per diem.
Section 11-7-20 - Delegation of powers and duties by commission.
Section 11-7-21 - Power to undertake, carry out, operate, construct, and repair projects.
Section 11-7-21.1 - Power to manage subsidized housing projects.
Section 11-7-22 - Power to acquire property--Eminent domain power.
Section 11-7-22.1 - Acquisition of private property by eminent domain for certain uses prohibited.
Section 11-7-23 - Power to lease or dispose of property--Contracts and instruments.
Section 11-7-26 - Payments in lieu of taxes on property.
Section 11-7-27 - Cooperation with federal government or state in carrying out projects.
Section 11-7-28 - Acceptance of grants and loans--Power to make loans.
Section 11-7-30 - Power to issue evidences of indebtedness.
Section 11-7-31 - Power to invest reserve and debt service funds.
Section 11-7-32 - Power to determine slum and blighted areas.
Section 11-7-33 - Power to establish income standards for admission to housing projects.
Section 11-7-34 - Power to make and disseminate housing and economic studies and analyses.
Section 11-7-35 - Power to prepare plan for municipal or county development.
Section 11-7-36 - Power to rent accommodations, buildings, and facilities.
Section 11-7-37 - Power to hold, improve, lease, or dispose of property.
Section 11-7-38 - Power to insure property.
Section 11-7-39 - Power to obtain federal or state guaranty of bonds--Premiums.
Section 11-7-41 - Power to make expenditures.
Section 11-7-42 - Exercise of combination of powers.
Section 11-7-43 - Projects subject to zoning, sanitary, and building regulations.
Section 11-7-44 - Work contracts and purchases to be awarded on competitive bids.
Section 11-7-49 - Approval required for initiation of low-rent housing projects.
Section 11-7-53 - Approval by governing body required for low-rent housing project.
Section 11-7-53.3 - Competitive bidding on construction of housing development project.
Section 11-7-60 - Noncitizens not accepted as tenants in housing projects.
Section 11-7-61 - Religious and political discrimination prohibited in selection of tenants.
Section 11-7-62 - Preference in rental to persons displaced by commission operations.
Section 11-7-63 - Preference in rentals to servicemembers and veterans.
Section 11-7-64 - Welfare recipients considered for admission to housing projects.
Section 11-7-65 - Periodic investigation of circumstances of tenants in housing projects.
Section 11-7-66 - Conditions waived in admitting servicemembers and veterans to housing projects.
Section 11-7-67 - Families with increased income required to move from project.
Section 11-7-68 - Rules and regulations for occupancy of housing projects.
Section 11-7-69 - Commission liable in contract or tort--Personal liability of commission members.
Section 11-7-74 - General development plan required before recommendation of redevelopment plan.
Section 11-7-78 - Findings of governing body required for approval of redevelopment plan.
Section 11-7-84 - Modification of redevelopment plans--Consent of lessee or purchaser required.
Section 11-7-85 - Performance bond required of purchaser or lessee of redevelopment property.
Section 11-7-88 - Sale or lease for variety of uses as purpose of redevelopment.
Section 11-7-91 - Provision for project revenues to be placed in debt service funds.
Section 11-7-92 - Commission power to issue bonds--Refunding bonds.
Section 11-7-94 - Conditions and covenants of bonds.
Section 11-7-97 - Private or public sale of bonds--Notice of sale.
Section 11-7-98 - Validity of signatures on bonds--Negotiable investment securities.
Section 11-7-99 - Tax exemption of bonds.
Section 11-7-100 - Recital in bond conclusive as to purpose.
Section 11-7-101 - Remedies conferred on bondholders by terms of bond.
Section 11-7-103 - Acceptance of federal loans and grants authorized--Compliance with conditions.
Section 11-7-104 - Mandamus available to obligee of commission--Injunction.
Section 11-7-106 - Commission accounts and annual report to auditor-general and governing body.
Section 11-7-107 - Investigations and examinations by auditor-general.
Section 11-7-108 - Enforcement of compliance with chapter and rules and regulations.