The secretary of the Department of Revenue may promulgate rules, pursuant to chapter 1-26, concerning this exemption to:

1. (1) Specify the real and personal property that makes up an environmental upgrade;
2. (2) Determine the original and depreciated cost of the environmental upgrade;
3. (3) Establish a procedure to calculate the effect of the exemption upon the assessed value of the coal-fired power plant; and
4. (4) Allocate the exemption between the ownership of the coal-fired power plant.

Commission Note: This section is repealed effective January 1, 2046, pursuant to SL 2013, ch 51, § 2.

Source: SL 2006, ch 44 , § 4; SL 2011, ch 1 (Ex. Ord. 11-1), § 161, eff. Apr. 12, 2011.