Committee endorses stricter regulations for economic development tools known as ‘TIFs’

By: Makenzie Huber

Outlets: South Dakota Searchlight

Published: February 20, 2026

Words: 503

Last Updated: 2 weeks, 4 days ago

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A South Dakota Senate Committee unanimously endorsed legislation on Friday to set new regulations around a common economic development tool used in the state.

A tax increment financing district is a defined geographic area where local governments use the new and higher property taxes generated by development — what’s known as the “increment” — to finance and pay off public improvements, such as infrastructure, within the district. State law requires that a portion of the …

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