HB 1060 - Wind Energy Facility Tax Refunds - South Dakota Key Vote
Timeline
- Senate Veto Override Passed
- March 29, 2010
- House Veto Override Passed
- March 29, 2010
- Executive Vetoed
- March 26, 2010
- Senate Conference Report Adopted
- March 12, 2010
- House Conference Report Adopted
- March 12, 2010
- House Concurrence Vote Failed
- March 10, 2010
- Senate Bill Passed
- March 9, 2010
- House Bill Passed
- Feb. 10, 2010
- Introduced
- Jan. 12, 2010
Related Issues
Stage Details
Title: Wind Energy Facility Tax Refunds
Vote Smart's Synopsis:
Vote to override a veto of a bill that establishes tax refunds for wind energy facilities that cost $10 million or more and have a construction date on or after January 1, 2010.
Highlights:
-Establishes the following tax refunds for wind energy facilities (Sec. 2):
- -45 percent of taxes paid for projects that cost more than $10 million but less than $40 million; and
-55 percent of taxes paid for projects that cost $40 million or more.
More Info About this Vote
NOTE: A TWO-THIRDS MAJORITY OF MEMBERS ELECTED IS REQUIRED TO OVERRIDE A GOVERNOR'S VETO.
Title: Wind Energy Facility Tax Refunds
Title: Agriculture and Business Facility Tax Refund Reductions
Vote Smart's Synopsis:
Vote to pass a bill that reduces tax refunds for new agricultural processing and business facilities.
Highlights:
-Reduces the amount of refunds for new business facilities as follows (Secs. 6 and 7):
- -Existing law:
- -For project costs of less than $10 million, there shall be no refund;
-For project costs of $10 million or more, but less than $15 million, the refund shall be 25 percent of taxes paid;
-For project costs of $15 million or more, but less than $20 million, the refund shall be 33 percent of taxes paid;
-For project costs of $20 million or more, but less than $40 million, the refund shall be 50 percent of taxes paid;
-For project costs of $40 million or more, but less than $60 million, the refund shall be 67 percent of taxes paid;
-For project costs of $60 million or more, but less than $600 million, the refund shall be 75 percent of taxes paid; and
-For project costs of $600 million or more, the refund shall be 90 percent of taxes paid;
- -For project costs of less than $25 million, there shall be no refund;
-For project costs of $25 million or more, but less than $250 million, the refund shall be 50 percent of taxes paid; and
-For project costs of $250 million or more dollars, there shall be no refund.
- -Existing law:
- -If the project costs do not exceed $4.5 million, there shall be no refund;
-If the project costs exceed $4.5 million, the refund shall be 100 percent of taxes attributed to the project costs;
- -For project costs of less than $25 million, there shall be no refund;
-For project costs of $25 million or more, but less than $250 million, the refund shall be 50 percent of taxes paid; and
-For project costs of $250 million or more dollars, there shall be no refund.
Title: Agriculture and Business Facility Tax Refund Reductions
Committee Sponsors
- Appropriations Committee (Sponsor)