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. Source: SL 2006, ch 44 , § 4; SL 2011, ch 1 (Ex. Ord. 11-1), § 161, eff. Apr. 12, 2011. Commission Note: This section is repealed effective January 1, 2046, pursuant to SL 2013, ch 51, § 2.