Section 11-9-1 - Definition of terms.
11-9-1. Definition of terms. Terms used in this chapter mean:
(1) "Department of Revenue and Regulation," the South Dakota Department of Revenue and Regulation;
(2) "Governing body," the board of trustees, the board of commissioners, the board of county commissioners, or the common council of a municipality;
(3) "Municipality," any incorporated city or town in this state and, for purposes of this chapter only, any county in this state;
(4) "Planning commission," a planning commission created under chapter 11-6 or a municipal planning committee of a governing body of a municipality which has no planning commission or, if the municipality is a county having no planning commission or planning committee, its board of county commissioners;
(5) "Project plan," the properly approved plan for the development or redevelopment of a tax incremental district including all properly approved amendments thereto;
(6) "Tax incremental district," a contiguous geographic area within a municipality defined and created by resolution of the governing body;
(7) "Taxable property," all real and personal taxable property located in a tax incremental district;
(8) "Tax increment valuation," is the total value of the tax incremental district minus the tax incremental base pursuant to § 11-9-19.
Source: SL 1978, ch 91, § 1; SL 1991, ch 114, § 1; SL 1992, ch 60, § 2; SL 1996, ch 69, § 16; SL 2003, ch 272, § 82.