S.D. Admin. R. 70:05:04:01
Current through Register Vol. 51, page 67, December 16, 2024
Section 70:05:04:01 - Deadline for submission of information for railroad tax credit - Application form - Information requiredA railroad seeking certification for railroad tax credits pursuant to SDCL 10-28-21.2 shall submit information to the South Dakota Department of Transportation no later than June 1 of the year following the year in which the replacement, improvement, and repair of rail lines was completed. The information shall be submitted on a form approved by the South Dakota Department of Transportation. The information shall include the following:
(1) The name of the railroad;(2) The total amount of qualifying capital expenditures incurred statewide for replacement, improvement, and repair of rail lines;(3) A list of the counties where the replacement, improvement, and repair of rail lines took place;(4) A description of the kind of work which was performed and an explanation of the purpose and justification for the work performed in each county;(5) The date the work was begun and the date the work was completed in each county;(6) The location of the rail line where the work was performed in each county, including the name of the line segment and the mile post markers corresponding to the starting and ending points of the work;(7) The amounts of the labor, material, and total capital expenditures incurred in each county;(8) The amount of expenditures in each county which were funded with state or federal grant funds or paid for by any third party;(9) A copy of the tax credit certification submitted by the railroad for each county where a tax credit is claimed; and(10) A statement, signed by a person authorized to act on behalf of the railroad, certifying that all information provided is true and all documents submitted are authentic.S.D. Admin. R. 70:05:04:01
31 SDR 89, effective 12/28/2004; 49 SDR 047, effective 11/21/2022General Authority: SDCL 10-28-21.6.
Law Implemented: SDCL 10-28-21.6.