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___________________ moved that HB 1141 be amended as follows:

     On the printed bill, delete everything after the enacting clause and insert:

"      Section 1. That § 10-6-74 be amended to read as follows:

     10-6-74.   Any If any real property which sells for more than one hundred fifty percent of its assessed value, may not the sale may only be used for the purpose of valuing other real property . The sale of any real property which is not used for the purpose of valuing other real property pursuant to this section may not be used in any sales ratio study by adjusting the sale price to one hundred fifty percent of its assessed value .

     Section 2. For taxes payable in 2007, the levy for the general fund of a school district, as provided in §  10-12-42, shall be lowered by:

             (1)      ______ cents per thousand dollars of taxable valuation subject to the limitations on agricultural property as provided in subdivision (2) of this section, owner-occupied property as provided for in subdivision (3) of this section, and nonagricultural acreage property as provided for in subdivision (4) of this section;

             (2)      ______ cents per thousand dollars of taxable valuation for agricultural property;

             (3)      ______ cents per thousand dollars of taxable valuation for an owner-occupied single-family dwelling as defined in § 10-13-40; and

             (4)      ______ cents per thousand dollars of taxable valuation for nonagricultural acreage property.

     This rate reduction is in addition to any other adjustment made by the Eighty-first Legislature of the State of South Dakota to the levy for the general fund of a school district as provided in §  10- 12-42.

     Section 3. That § 10-6-74 be amended to read as follows:

     10-6-74.   Any If any real property which sells for more than one hundred fifty sixty percent of its assessed value, may not the sale may only be used for the purpose of valuing other real property . The sale of any real property which is not used for the purpose of valuing other real property pursuant to this section may not be used in any sales ratio study by adjusting the sale price to one hundred sixty percent of its assessed value .

     Section 4. That § 10-6-74 be amended to read as follows:

     10-6-74.   Any If any real property which sells for more than one hundred fifty seventy-five percent of its assessed value, may not the sale may only be used for the purpose of valuing other real property . The sale of any real property which is not used for the purpose of valuing other real property pursuant to this section may not be used in any sales ratio study by adjusting the sale price to one hundred seventy-five percent of its assessed value .

     Section 5. That § 10-6-74 be amended to read as follows:

     10-6-74.   Any If any real property which sells for more than one hundred fifty ninety percent of its assessed value, may not the sale may only be used for the purpose of valuing other real property . The sale of any real property which is not used for the purpose of valuing other real property pursuant to this section may not be used in any sales ratio study by adjusting the sale price to one hundred ninety percent of its assessed value .

     Section 6. That § 10-6-74 be amended to read as follows:

     10-6-74.   Any If any real property which sells for more than one hundred fifty two hundred ten percent of its assessed value, may not the sale may only be used for the purpose of valuing other real property . The sale of any real property which is not used for the purpose of valuing other real property pursuant to this section may not be used in any sales ratio study by adjusting the sale price to two hundred ten percent of its assessed value .

     Section 7. That § 10-6-74 be repealed.

     10-6-74.   Any real property which sells for more than one hundred fifty percent of its assessed value, may not be used for the purpose of valuing other real property. The sale of any real property which is not used for the purpose of valuing other real property pursuant to this section may not be used in any sales ratio study.

     Section 8. Section 3 of this Act is effective on July 1, 2007.

     Section 9. Section 4 of this Act is effective on July 1, 2009.

     Section 10. Section 5 of this Act is effective on July 1, 2011.

     Section 11. Section 6 of this Act is effective on July 1, 2013.

     Section 12. Section 7 of this Act is effective on July 1, 2015."