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H0806.....................................................by WAYS AND MEANS SCHOOL SUPPORT - Adds to existing law to provide a state guaranteed school support replacement for value lost through operation of alternative forest land values. 03/31 House intro - 1st rdg - to printing 04/03 Rpt prt - to Rev/Tax
|||| LEGISLATURE OF THE STATE OF IDAHO |||| Fifty-fifth Legislature Second Regular Session - 2000 IN THE HOUSE OF REPRESENTATIVES HOUSE BILL NO. 806 BY WAYS AND MEANS COMMITTEE 1 AN ACT 2 RELATING TO REPLACEMENT OF LOST VALUE FOR PURPOSES OF TAXATION; AMENDING CHAP- 3 TER 17, TITLE 63, IDAHO CODE, BY THE ADDITION OF A NEW SECTION 63-1705A, 4 IDAHO CODE, TO PROVIDE A STATE GUARANTEED SCHOOL SUPPORT REPLACEMENT FOR 5 VALUE LOST THROUGH OPERATION OF ALTERNATIVE FOREST LAND VALUES; AND 6 DECLARING AN EMERGENCY AND PROVIDING RETROACTIVE APPLICATION. 7 Be It Enacted by the Legislature of the State of Idaho: 8 SECTION 1. That Chapter 17, Title 63, Idaho Code, be, and the same is 9 hereby amended by the addition thereto of a NEW SECTION, to be known and des- 10 ignated as Section 63-1705A, Idaho Code, and to read as follows: 11 63-1705A. STATE GUARANTEED SCHOOL SUPPORT. In recognition of the impact 12 of the provisions of section 63-1705, Idaho Code, the legislature finds that 13 it is in the public interest to assure that those school districts which are 14 impacted by loss of assessed valuation, are protected from operation of the 15 provisions. The state tax commission shall determine each school district's 16 taxable value absent the effect of section 63-1705, Idaho Code, as amended by 17 H.B. 513, second regular session, fifty-fifth Idaho legislature. The resulting 18 taxable value shall be used to calculate levy rates for supplemental, plant 19 facility, and bonds outstanding as of July 1, 2000. These levy rates shall be 20 applied to the taxable value including the effect of section 63-1705, Idaho 21 Code. The portion not actually realized due to the decrease in taxable value 22 for assessment purposes through the operation of section 63-1705, Idaho Code, 23 shall be transmitted to the county on warrants drawn by the state controller 24 against the budget stabilization fund established in section 57-814, Idaho 25 Code, and for that purpose the money in the fund is hereby appropriated. When 26 the taxable value for assessment purposes of the school district reaches the 27 December 31, 1999, value, the provisions of this section shall no longer 28 apply. 29 SECTION 2. An emergency existing therefor, which emergency is hereby 30 declared to exist, this act shall be in full force and effect on and after its 31 passage and approval, and retroactively to January 1, 2000.
STATEMENT OF PURPOSE RS 10340 As a result of new public policy created by the passage of HB513, there will be a significant tax shift in many school districts, placing additional tax burdens on the homeowners, business persons and landowners in the district. The purpose of this legislation is to provide a hold harmless provision for those taxpayers in the impacted school districts. The hold harmless provision would impact only existing plant facility levies, bonded indebtedness and supplemental levies. The market value for assessment purposes on December 31, 1999, would be established as the state guaranteed value of the district, until such time that the market value reaches or surpasses the December 31, 1999, value. The state's guarantee will come from the state's Budget Stabilization Account, in the manner described in the text of the bill. FISCAL IMPACT The fiscal impact of this legislation is based on statistics provided by the State Department of Education. The fiscal impact is projected to be approximately $100,000 in the last year of the phase-in of Section 63-1705, Idaho Code, based on current levies. Contact Name: Rep. Roger Chase Phone: 208-332-1000 STATEMENT OF PURPOSE/FISCAL NOTE H 806