Bill > H0663

This bill amends existing law to revise provisions regarding a property tax credit for certain plant and building investments. It allows county commissioners to exempt all or part of the change in assessed value attributable to new or existing plant or building investments, subject to certain criteria. The criteria include a minimum investment of $500,000, the investment bringing significant economic benefits to the county, and the facilities being used for non-retail commercial, residential, or industrial purposes. The bill also allows the commissioners to consider trade secrets in executive session when evaluating the exemption and requires public notice and a meeting before granting the exemption. The bill takes effect on July 1, 2022.

Budget and Finance

Revenue and Taxation Committee (H)

https://legislature.idaho.gov/sessioninfo/2022/legislation/H0663/