South Dakota § 1-7-8 - Authorization to allocate certain bonds exempt from federal income taxes.
Full text of South Dakota South Dakota Codified Laws § 1-7-8 — Authorization to allocate certain bonds exempt from federal income taxes., with citation guidance and answers to common questions.
§ 1-7-8. Authorization to allocate certain bonds exempt from federal income taxes.
The Governor shall establish, by executive order, a procedure for the allocation of authority to issue bonds pursuant to any federal legislation which limits the amount of such bonds which may be issued in the State of South Dakota and bear interest exempt from federal income taxes and authorizes the state to establish an allocation procedure. This authority shall specifically include restrictions imposed by Section 103(n) of the Internal Revenue Code of 1954, as amended, and in the event of its passage, Section 145 of the Tax Reform Bill of 1985, H.R. 3838 and any other legislation which imposes similar limits. To the extent permitted by the federal legislation, this section shall override the allocation procedures established in the federal legislation.
Source: SL 1986, ch 12, §§ 1, 1A; SL 1989, ch 8, § 1.
Source: official South Dakota text · Last verified 2026-08-27
Frequently Asked Questions About South Dakota § 1-7-8
What does South Dakota Codified Laws § 1-7-8 cover?
Section 1-7-8 ("Authorization to allocate certain bonds exempt from federal income taxes.") is part of the South Dakota Codified Laws, the codified statutory law of South Dakota. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite South Dakota § 1-7-8?
A common citation format is "South Dakota Codified Laws § 1-7-8" (South Dakota). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of South Dakota law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the South Dakota official source linked on this page or consult a licensed South Dakota attorney.
How does South Dakota § 1-7-8 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in South Dakota can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in South Dakota.