2000 Legislation
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HOUSE BILL NO. 762 – Property tax/contracts/electric pwr

HOUSE BILL NO. 762

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Daily Data Tracking History



H0762...............................................by REVENUE AND TAXATION
PROPERTY TAX - Amends existing law to exclude contracts and contract rights
relating to the sale of electric power by nonregulated electric power
generators from the exemption to property taxation for intangible personal
property.
                                                                        
03/20    House intro - 1st rdg - to printing
03/21    Rpt prt - to 2nd rdg
03/22    2nd rdg - to 3rd rdg
    Rules susp - PASSED - 59-0-11
      AYES -- Alltus, Barraclough, Barrett, Bell, Bieter, Black, Boe,
      Bruneel, Callister, Campbell, Chase, Clark, Crow, Deal, Denney,
      Ellsworth, Field(13), Field(20), Gagner, Geddes, Gould, Hammond,
      Hansen(29), Henbest, Hornbeck, Jaquet, Judd, Kellogg, Kempton,
      Kendell, Lake, Linford, Loertscher, Mader, Marley, McKague, Meyer,
      Montgomery, Mortensen, Moss, Moyle, Pearce, Pischner, Pomeroy,
      Reynolds, Ridinger, Ringo, Robison, Sali, Schaefer, Sellman,
      Shepherd, Smith, Smylie, Stevenson, Stoicheff, Stone, Taylor,
      Zimmermann
      NAYS -- None
      Absent and excused -- Cheirrett, Cuddy, Hadley, Hansen(23), Jones,
      Kunz, Tilman, Trail, Wheeler, Wood, Mr Speaker
    Floor Sponsor - Bell
    Title apvd - to Senate
03/23    Senate intro - 1st rdg - to Loc Gov

Bill Text


 H0762
                                                                        
                                                                        
  ||||              LEGISLATURE OF THE STATE OF IDAHO             ||||
 Fifty-fifth Legislature                  Second Regular Session - 2000
                                                                        
                                                                        
                              IN THE HOUSE OF REPRESENTATIVES
                                                                        
                                     HOUSE BILL NO. 762
                                                                        
                             BY REVENUE AND TAXATION COMMITTEE
                                                                        
  1                                        AN ACT
  2    RELATING TO EXEMPTIONS FOR PROPERTY TAX; AMENDING SECTION 63-602L, IDAHO CODE,
  3        TO EXCLUDE FROM THE EXEMPTION FOR INTANGIBLE PERSONAL  PROPERTY  CONTRACTS
  4        AND CONTRACT RIGHTS RELATING TO THE SALE OF ELECTRIC POWER BY NONREGULATED
  5        ELECTRIC POWER GENERATORS; DECLARING AN EMERGENCY AND PROVIDING A RETROAC-
  6        TIVE EFFECTIVE DATE.
                                                                        
  7    Be It Enacted by the Legislature of the State of Idaho:
                                                                        
  8        SECTION  1.  That  Section 63-602L, Idaho Code, be, and the same is hereby
  9    amended to read as follows:
                                                                        
 10        63-602L.  PROPERTY EXEMPT FROM TAXATION -- INTANGIBLE  PERSONAL  PROPERTY.
 11    (1)  The following intangible personal property is exempt from taxation: capi-
 12    tal stock and bonds. The deposits in national banks, state banks, and  savings
 13    and  loan  associations. Shares and accounts of savings and loan associations,
 14    credit unions or associations organized under the laws of the state  of  Idaho
 15    for  the  purpose  of  accumulating the savings and funds of their members and
 16    lending the same to their members. Goodwill,  customer  lists,  contracts  and
 17    contract  rights,  patents, trademarks, custom computer programs as defined in
 18    section 63-3616, Idaho Code, copyrights, trade secrets, franchises,  licenses,
 19    rights-of-way which are possessory only and not accompanied by title.
 20        (2)  The  commission  shall  promulgate  rules which shall provide for the
 21    exclusion of exempt intangible personal property from taxable value of operat-
 22    ing property. Such rules shall allow each taxpayer the right to elect one  (1)
 23    of the following three (3) methods for exclusion of exempt intangible personal
 24    property from its taxable value:
 25        (a)  Separate  exclusion of the exempt intangible personal property at the
 26        system level value; or
 27        (b)  Separate exclusion of the exempt intangible personal property at  the
 28        state allocated value; or
 29        (c)  Exclusion  of the exempt intangible personal property by valuation of
 30        only tangible personal property and nonexempt intangible personal property
 31        using valuation models which do not  impound  or  include  values  of  the
 32        exempt intangible personal property.
 33        (d)  As  used  in this section the terms "contracts" and "contract rights"
 34        do not include a contract for the sale of electric power or rights arising
 35        from such a contract when the seller is a generator of electric power  who
 36        is  not  a  public utility as defined in section 61-129, Idaho Code, or is
 37        not regulated by the Idaho public utilities commission.
                                                                        
 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, 2000.

Statement of Purpose / Fiscal Impact


     
     
                STATEMENT OF PURPOSE 
                      RS 10304 
     
     This RS would amend Section 1, 63-6022, Idaho Code, to clarify that contracts
     for the power of non-utility generators of electric power are not included in
     "contracts and contract rights" as used in Section 61-129, Idaho Code. 
     
     
     
     
                     FISCAL NOTE 
     
     No impact to the General Fund. This will neutralize a previous tax shift to some
     county taxing districts. 
     
     
     
     
     
     
     
               CONTACT:  Rep. Maxine Bell       332-1000
                                             Rep Burt Stevenson  332-1000
                                        Dan Chadwick   345-9126 
     
     
                                             STATEMENT OF PURPOSE/ FISCAL NOTE                           H 762