Source: http://sdlegislature.gov/Legislative_Session/Bills/Bill.aspx?File=HB1297H.htm&Session=2018&Version=House&Bill=1297
Timestamp: 2019-04-19 10:38:50+00:00

Document:
FOR AN ACT ENTITLED, An Act to revise certain provisions regarding capital outlay obligations.
compelled by mandamus or other appropriate remedy to levy an annual tax sufficient to pay principal and interest thereon, but not to exceed the three dollars per thousand dollars of taxable valuation in any year authorized to be levied hereby.
The total amount of revenue payable from the levy provided in this section may not increase annually by more than the lesser of three percent or the index factor, as defined in § 10-13-38, over the maximum amount of revenue that could have been generated from the taxes payable in 2016. After applying the index factor, a school district may increase the revenue payable from taxes on real property above the limitations provided by this section by the percentage increase of value resulting from any improvements or change in use of real property, annexation, minor boundary changes, and any adjustments in taxation of real property separately classified and subject to statutory adjustments and reductions under chapters 10-4, 10-6, 10-6A, and 10-6B, except § 10-6-31.4, only if assessed the same as property of equal value. A school district may increase the revenue it the district receives from taxes on real property above the limit provided by this section for taxes levied to pay the principal, interest, and redemption charges on any bonds issued after January 1, 2009, which are subject to referendum, scheduled payment increases on bonds and for a levy directed by the order of a court for the purpose of paying a judgment against such the school district. Any school district created or reorganized after January 1, 2016, is exempt from the limitation provided by this section for a period of two years immediately following its the district's creation.
and subsequent years, the maximum amount for each enrolled student shall increase by the lesser of three percent or the index factor, as defined in § 10-13-38. The maximum amount for each enrolled student does not apply to any school district that has irrevocably pledged taxes collected to the payment of principal and interest on installment purchase contracts or capital outlay certificates entered into or issued pursuant to § 13-16-6 or 13-16-6.2 or lease-purchase agreements or other arrangement with the Health and Educational Facilities Authority, if the obligation was entered into before July 1, 2016, and the limitation would cause the school district to default on its obligation if limited pursuant to this section.
If a school district has irrevocably pledged taxes collected to the payment of principal and interest on installment purchase contracts or capital outlay certificates entered into or issued pursuant to § 13-16-6 or 13-16-6.2 or lease-purchase agreements or other arrangements with the Health and Educational Facilities Authority prior to July 1, 2016, that school district may raise taxes allowed pursuant to this Act in an amount necessary to fund those payments and obligations and to provide additional funding of up to two thousand eight hundred dollars for each enrolled student as determined in the fall enrollment count set forth in § 13-13-10.1.
to the voters of the district.

References: § 10
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 § 13