HB 1245·SD·house
authorize municipalities to establish a local funding mechanism for capital improvement projects.
Signed into LawFiled Feb 2, 2026
Sponsor: Jamison
Latest Action
Signed by the Governor on 2026-03-18
Mar 30, 2026
Summary
The bill lets cities and towns create a local tax on gross receipts, up to 1%, to finance capital improvements such as building, repairing, or acquiring property and equipment. A five‑member capital improvement board must approve the tax ordinance, and voters must endorse it with at least 60% support. Collected funds are placed in a dedicated outlay account for approved projects.
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