Archive for March, 2013

Personal Property Tax Bills

HB 272 The first of the person property tax bills was introduced by the Idaho Association of Counties. It attempts to remove the tax for 90 percent of businesses this year. All property valued below $1500 would be exempt and total business property valued below $100,000 would be exempt. The state would cover $20 million to replace revenue local governments stand to lose.
HB 276 The second personal property tax bill was introduced on Friday by the Idaho Association of Commerce and Industry. It phases out the entire tax over a 7 year period beginning with $100,000 exemption the first year. It is revenue neutral for local governments based on the year of the implementation and reimburses local revenue including bonds and levies with state funds. The fiscal impact to the state is $20 million the first year, and an additional $20 million each subsequent year till the tax is repealed. In the event of an economic downturn the legislation provides a mechanism for the state to delay that year’s tax repeal.


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HB 162 Update

HB 162 is in the Idaho Senate Commerce Committee on Thursday.   The meeting begins at 1:30 and there will be several items on the agenda.  We have not had any concerns over the legislation like we did in the house, therefore I would ask that only one of you testify on behalf of the association.  Having others present to show support and be available for questions like last time will be great.  Let’s plan to meet in the same location as we did before the House committee meeting at 1:10. 

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