A railroad seeking certification for railroad tax credits pursuant to SDCL 10-28-21.2 shall submit the following information to the department, on a form prescribed by the department, no later than June 1 of the year following the year in which the replacement, improvement, and repair of rail lines was completed:
- (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 that 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 name of the line segment and the mile post markers corresponding to the starting and ending points of the work performed in each county;
- (7) The amounts of the labor, material, and total capital expenditures incurred in each county;
- (8) The amount of expenditures in each county that 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.
Source: 31 SDR 89, effective December 28, 2004 ; 49 SDR 47, effective November 21, 2022 .
General Authority: SDCL 10-28-21.6 .
Law Implemented: SDCL 10-28-21.6 .
Prior versions effective: 2004-12-28.