Tax levied on electric energy delivered--Credit

There is levied on each company subject to §§ 10-36-1 and 10-36-2 , as of May first of each year, a tax of $0.0016 per kilowatt hour of retail electric energy and a tax of $0.0008 per kilowatt hour of wholesale electric energy delivered to its customer within the State of South Dakota during the preceding calendar year. Each company taxed pursuant to this section shall receive a credit against the taxes due and payable under this section if it has contracted jointly or severally for the use of property in this state owned, held under lease, or otherwise by a light or power company defined in § 10-35-2 , a consumer power district organized pursuant to chapter 49-35 , or a municipal power agency organized pursuant to chapter 9-41A if the property is assessed for taxation pursuant to chapter 10-35 , subject to an excise tax as provided in § 49-37-13 , or taxed as provided in §