1-16H-44. Property tax exemption for certain leased property in Lawrence County.
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/sd/title-1/chapter-1-16/1-16h-44·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
If the authority leases land, improvements, equipment, fixtures, or other property interests in Lawrence County to an entity that:
(1)Is organized and operated on a not-for-profit basis;
(2)Is organized as a limited liability company;
(3)Has members of the limited liability company otherwise qualifying for exemption from real property taxation in the state where the entity's headquarters are located; and
(4)Is organized and operated for scientific research and related educational purposes;