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H0319...............................................by REVENUE AND TAXATION PROPERTY TAX EXEMPTION - Adds to existing law to exempt from property tax the net taxable value of all property of a taxpayer in excess of eight hundred million dollars within a single county; to provide application to owned real property and to owned, leased or rented personal property; to provide that leased or rented personal property included in the calculation of the exemption shall not be assessable against the owner of such property; to provide an order in which a taxpayer may designate property to which the exemption applies; to provide for designation in certain instances; to provide requirements for capital investment and jobs; to provide for no other property tax exemptions, with an exception; and to provide for rules. 03/10 House intro - 1st rdg - to printing Rpt prt - to Rev/Tax 03/11 Rpt out - rec d/p - to 2nd rdg 03/14 2nd rdg - to 3rd rdg 03/15 3rd rdg - PASSED - 67-3-0 AYES -- Anderson, Andrus, Barraclough, Barrett, Bastian, Bayer, Bedke, Bell, Bilbao, Black, Block, Boe, Bolz, Bradford, Cannon, Chadderdon, Clark, Collins, Crow, Deal, Denney, Edmunson, Ellsworth, Eskridge, Field(18), Field(23), Garrett, Hart(Jacobson), Harwood, Henbest, Henderson, Jaquet, Jones, Kemp, Lake, Loertscher, Martinez, Mathews, McGeachin, McKague, Miller, Moyle, Nielsen, Nonini, Pasley-Stuart, Pence, Raybould, Ring, Roberts, Rusche, Rydalch, Sali, Sayler, Schaefer, Shepherd(2), Shepherd(8), Shirley, Skippen, Smith(30), Smith(24), Smylie, Snodgrass, Stevenson, Trail, Wills, Wood, Mr. Speaker NAYS -- LeFavour, Mitchell, Ringo Absent and excused -- None Floor Sponsors - Crow & Field(18) Title apvd - to Senate 03/16 Senate intro - 1st rdg - to Loc Gov 03/22 Rpt out - rec d/p - to 2nd rdg 03/23 2nd rdg - to 3rd rdg 03/24 3rd rdg - PASSED - 34-0-0, 1 vacancy AYES -- Andreason, Brandt, Broadsword, Bunderson, Burkett, Burtenshaw, Cameron, Coiner, Compton, Corder, Darrington, Davis, Gannon, Geddes, Goedde, Hill, Jorgenson, Kelly, Keough, Langhorst, Little, Lodge, Malepeai, Marley, McGee, McKenzie, Pearce, Richardson, Schroeder, Stegner, Stennett, Sweet, Werk, Williams NAYS -- None Absent and excused -- (District 21 seat vacant) Floor Sponsors - Bunderson & Sweet Title apvd - to House 03/24 To enrol 03/28 Rpt enrol - Sp signed 03/29 Pres signed 03/30 To Governor 04/05 Governor signed Session Law Chapter 284 Effective: 01/01/05
]]]] LEGISLATURE OF THE STATE OF IDAHO ]]]] Fifty-eighth Legislature First Regular Session - 2005 IN THE HOUSE OF REPRESENTATIVES HOUSE BILL NO. 319 BY REVENUE AND TAXATION COMMITTEE 1 AN ACT 2 RELATING TO PROPERTY TAX; AMENDING CHAPTER 6, TITLE 63, IDAHO CODE, BY THE 3 ADDITION OF A NEW SECTION 63-602HH, IDAHO CODE, TO EXEMPT FROM PROPERTY 4 TAX THE NET TAXABLE VALUE OF ALL PROPERTY OF A TAXPAYER IN EXCESS OF 5 EIGHT HUNDRED MILLION DOLLARS WITHIN A SINGLE COUNTY, TO PROVIDE APPLICA- 6 TION TO OWNED REAL PROPERTY AND TO OWNED, LEASED OR RENTED PERSONAL PROP- 7 ERTY, TO PROVIDE THAT LEASED OR RENTED PERSONAL PROPERTY INCLUDED IN THE 8 CALCULATION OF THE EXEMPTION SHALL NOT BE ASSESSABLE AGAINST THE OWNER OF 9 SUCH PROPERTY, TO PROVIDE AN ORDER IN WHICH A TAXPAYER MAY DESIGNATE PROP- 10 ERTY TO WHICH THE EXEMPTION APPLIES, TO PROVIDE FOR DESIGNATION IN CER- 11 TAIN INSTANCES, TO PROVIDE REQUIREMENTS FOR CAPITAL INVESTMENT AND JOBS, 12 TO PROVIDE FOR NO OTHER PROPERTY TAX EXEMPTIONS WITH AN EXCEPTION AND TO 13 PROVIDE FOR RULES; DECLARING AN EMERGENCY AND PROVIDING RETROACTIVE APPLI- 14 CATION. 15 Be It Enacted by the Legislature of the State of Idaho: 16 SECTION 1. That Chapter 6, Title 63, Idaho Code, be, and the same is 17 hereby amended by the addition thereto of a NEW SECTION, to be known and des- 18 ignated as Section 63-602HH, Idaho Code, and to read as follows: 19 63-602HH. PROPERTY EXEMPT FROM TAXATION -- SIGNIFICANT CAPITAL INVEST- 20 MENTS. (1) The net taxable value of all property of a taxpayer in excess of 21 eight hundred million dollars ($800,000,000) located within a single county in 22 Idaho shall be exempt from property taxation and any special assessment. 23 (2) The property included in the calculation of the exemption set forth 24 in this section shall include all real property owned, and all personal prop- 25 erty owned, leased, or rented that would otherwise be subject to property tax; 26 provided however, with respect to leased or rented personal property, only 27 that portion of the property which a taxpayer is contractually liable for pay- 28 ment of property taxes thereon shall be included in the calculation of the 29 exemption. 30 (3) Leased or rented personal property, included in the calculation of 31 the exemption provided by this section shall not be assessable against the 32 owner of such property. 33 (4) The exemption set forth in this section shall apply first to owned 34 real and personal property and, if exhausted, shall then apply to leased or 35 rented personal property. 36 (5) The taxpayer owning, leasing, or renting the property included in the 37 calculation of the exemption shall designate the property to which the exemp- 38 tion applies. 39 (6) The exemption set forth in this section shall not be available to any 40 taxpayer with respect to a given year who, in the immediately preceding calen- 41 dar year, failed to make significant capital investments of at least twenty- 42 five million dollars ($25,000,000), by the acquisition or improvement of real 43 or personal property located within the county referred to in subsection (1) 2 1 of this section. 2 (7) The exemption set forth in this section shall not be available to any 3 taxpayer with respect to a given year who, as of the first day of such year, 4 did not employ or engage on a regular full-time basis, or the equivalent 5 thereof, at least one thousand five hundred (1,500) workers within the county 6 referred to in subsection (1) of this section. 7 (8) Except for the exemption provided for in subsection (4) of 63-3029B, 8 Idaho Code, no other exemption from property tax or any special assessment 9 provided by the statutes of this state shall be applicable to any property 10 described in subsection (2) of this section with respect to a year in which 11 the exemption set forth in subsection (1) of this section applies to any of 12 the same property. 13 (9) The state tax commission shall adopt all rules that may be necessary 14 to implement this section. 15 SECTION 2. An emergency existing therefor, which emergency is hereby 16 declared to exist, this act shall be in full force and effect on and after its 17 passage and approval and retroactively to January 1, 2005.
STATEMENT OF PURPOSE RS15132 This bill exempts from property tax "significant capital investment." The exemption is for the market value of all property of a business or person in excess of eight hundred million dollars ($800,000,000) within a single county. A business or person would qualify for this exemption if they make a significant capital investment which would put the market value of their operations over $800,000,000, along with maintaining the following annual investment objectives: - The taxpayer must make a capital investment of at least twenty five million dollars ($25,000,000) in the county of the qualifying exemption each year prior to claiming the exemption. - The taxpayer must employ a minimum of one thousand five hundred (1,500) full time employees in the county of the qualifying exemption during the year of the exemption. The bill is effective January 1, 2005. FISCAL NOTE No effect on the general fund. The cost to local governments and schools should be zero as it is estimated that no single taxpayer will have a market value of more than $800,000,000. Contact Name: Dolores Crow Phone: 332-1000 Name: Debbie Field Phone: 332-1000 Name: Mike Reynoldson, Micron Phone: 599-0510 STATEMENT OF PURPOSE/FISCAL H 319