S.D. Codified Laws § 13-13-10.2
The assessed value as determined in § 13-13-10.1 of any property in a tax increment financing district formed on or before December 31, 1994, and created pursuant to chapter 11-9 is the tax increment base, as defined in § 11-9-19 until the district ceases to exist as provided in § 11-9-46. The assessed values, as determined in § 13-13-10.1 of any property in a tax increment financing district formed after December 31, 1994, and created pursuant to chapter 11-9, is the total assessed value of the property determined by the Department of Revenue pursuant to § 11-9-24, until the district ceases to exist as provided in § 11-9-46. The provisions of this chapter do not apply to any tax increment financing district created after December 31, 1994, for industrial purposes. For the purposes of this chapter, the term, industrial, includes only those activities generally recognized as industrial by zoning authorities within the state, including any factory or any business engaged primarily in the manufacturing or assembly of goods, the processing of raw materials, and the wholesale distribution of products for resale. The provisions of this chapter do not apply to any tax increment financing district created after December 31, 2003, for economic development purposes. For the purposes of this chapter, the term, economic development, includes any area where there is or will be one or more businesses engaged in any activity defined as commercial or industrial by the governing body that has zoning authority over the land contained within the tax increment financing district.
This section applies to any tax increment financing district created before July 1, 2018.
SDCL 13-13-10.2