10-35-1.10. Promulgation of rules on environmental upgrade exemption. The secretary of the Department of Revenue may promulgate rules, pursuant to chapter 1-26, concerning this exemption to:
(1) Specify the real and personal property that makes up an environmental upgrade;
(2) Determine the original and depreciated cost of the environmental upgrade;
(3) Establish a procedure to calculate the effect of the exemption upon the assessed value of the coal-fired power plant; and
(4) Allocate the exemption between the ownership of the coal-fired power plant. (This section is repealed effective January 1, 2046 pursuant to SL 2013, ch 51, § 2.)Source: SL 2006, ch 44, § 4; SL 2011, ch 1 (Ex.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.
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