HOUSE BILL NO. 427
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H0427...............................................by REVENUE AND TAXATION
PROPERTY TAX - Amends existing law to provide that when an individual
parcel in a rural homesite development plat is transferred, the individual
parcel shall not be eligible for the speculative portion of value of
agricultural land exemption unless the requirements of the exemption are
met; to provide that remaining parcels are otherwise eligible for the
speculative portion of value of agricultural land exemption unless they are
otherwise ineligible; to provide that the transfer of a parcel to a child
or a spouse of the owner shall not cause ineligibility for the speculative
portion of value of agricultural land exemption unless construction of
improvements on the parcel has begun.
01/19 House intro - 1st rdg - to printing
01/20 Rpt prt - to Rev/Tax
]]]] LEGISLATURE OF THE STATE OF IDAHO ]]]]
Fifty-eighth Legislature Second Regular Session - 2006
IN THE HOUSE OF REPRESENTATIVES
HOUSE BILL NO. 427
BY REVENUE AND TAXATION COMMITTEE
1 AN ACT
2 RELATING TO PARTIAL EXEMPTION FOR PARCELS ON LAND IN A RURAL HOMESITE DEVELOP-
3 MENT PLAT; AMENDING SECTION 63-602FF, IDAHO CODE, TO PROVIDE THAT WHEN AN
4 INDIVIDUAL PARCEL IN A RURAL HOMESITE DEVELOPMENT PLAT IS TRANSFERRED,
5 THAT INDIVIDUAL PARCEL SHALL NOT BE ELIGIBLE FOR THE SPECULATIVE PORTION
6 OF VALUE OF AGRICULTURAL LAND EXEMPTION UNLESS THE REQUIREMENTS OF THE
7 EXEMPTION ARE MET, TO PROVIDE THAT REMAINING PARCELS ARE ELIGIBLE FOR THE
8 SPECULATIVE PORTION OF VALUE OF AGRICULTURAL LAND EXEMPTION UNLESS THEY
9 ARE OTHERWISE INELIGIBLE, TO PROVIDE THAT THE TRANSFER OF A PARCEL TO A
10 CHILD OR A SPOUSE OF THE OWNER SHALL NOT CAUSE INELIGIBILITY FOR THE SPEC-
11 ULATIVE PORTION OF VALUE OF AGRICULTURAL LAND EXEMPTION UNLESS CONSTRUC-
12 TION OF IMPROVEMENTS ON THE PARCEL HAS BEGUN AND TO MAKE TECHNICAL CORREC-
13 TIONS; DECLARING AN EMERGENCY AND PROVIDING RETROACTIVE APPLICATION.
14 Be It Enacted by the Legislature of the State of Idaho:
15 SECTION 1. That Section 63-602FF, Idaho Code, be, and the same is hereby
16 amended to read as follows:
17 63-602FF. PARTIAL EXEMPTION FOR PARCELS OF LAND IN A RURAL HOME SITE
18 HOMESITE DEVELOPMENT PLAT. (1) Each parcel of land in a rural home site
19 homesite development plat previously eligible for the exemption pursuant to
20 section 63-602K, Idaho Code, shall continue to be eligible for the exemption.
21 until such time as improvements are being built upon the When an individual
22 parcel . Once construction of the improvements has begun, no acreage in the is
23 transferred that individual parcel shall not be eligible for the exemption
24 pursuant to section 63-602K, Idaho Code, unless the requirements of the exemp-
25 tion have been met, provided however, that the remaining parcels shall be eli-
26 gible for the exemption pursuant to section 63-602K, Idaho Code, unless they
27 are otherwise ineligible. Transfer of a parcel to a child or a spouse of the
28 owner shall not cause ineligibility for the exemption pursuant to section
29 63-602K, Idaho Code, unless construction of improvements on the parcel has
30 begun in which case the parcel shall not be eligible for the exemption.
31 (2) For purposes of this section, the following definitions shall apply:
32 (a) "Plat" means the drawing, map or plan of a subdivision or a replat-
33 ting of such, including certifications, descriptions and approvals.
34 (b) "Rural home site homesite development plat" means a subdivision plat
35 for the development of property outside the boundaries of an incorporated
36 municipality within a county of less than one hundred thousand (100,000)
37 population, recorded with the county recorder.
38 SECTION 2. An emergency existing therefor, which emergency is hereby
39 declared to exist, this act shall be in full force and effect on and after its
40 passage and approval, and retroactively to January 1, 2006.
STATEMENT OF PURPOSE
This legislation provides that land that is being developed into
rural home sites must meet the requirements of the agriculture
exemption in order to receive the benefit of the exemption.
None to the general fund. It may shift taxes to one class of
property taxpayers from others and it may increase funds
available for the maintenance and operation of schools.
Name: Rep. Lake
STATEMENT OF PURPOSE/FISCAL NOTE H 427