View Bill Status
View Bill Text
View Statement of Purpose / Fiscal Impact
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