Each individual entry is a single program reported by a single jurisdiction in a given fiscal year. Because we want to track the level and quality of disclosure as well as the content, the values below -- with the exception of program names -- are entered exactly as they are reported. See our user guide for more explanations.
| State: | South Dakota |
| Effected Jurisdiction: | South Dakota |
Jurisdiction type: | State |
| Fiscal year ending In: | 2022 |
| Program name: | Reinvestment Payment Program |
| Program purpose: | Job Creation/Retention |
| Statutory authority: | SDCL 1-16G-56 to 1-16G-68 |
| Abating jurisdiction(s): | State of South Dakota |
| Applicable taxes: | Sales and Use Tax |
| Method of abatement: | Tax Rebate |
| Provisions for recapture: | No recapture provisions as taxes are abated after costs have been incurred or targets have been reached (i.e. performance-based awards). |
| Gross revenue loss: | $25,200,000 |
| Reimbursement / offset: | $0 |
| Net revenue loss: | $25,200,000 |
| Type of loss: | Active |
| Additional notes on dislosure: | During fiscal year 2022, the State abated $8.0 million of sales and use tax as estimated reimbursement amounts for approved projects that have not met all the reimbursement criteria. The State reimbursed $17.2 million of sales and use tax during fiscal year 2022, all of which was abated in prior fiscal years. |
| Document source: | https://bfm.sd.gov/ACFR/SD_ACFR_2022.PDF#view=fit |
