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H0398.....................................................by WAYS AND MEANS TAXING DISTRICTS - Adds to existing law to provide a limitation on budget requests of taxing districts by applying tax levies against the market value of personal property; to provide for consolidated taxing districts; and to provide the effect of annexation. 03/30 House intro - 1st rdg - to printing 03/31 Rpt prt - to Rev/Tax
]]]] LEGISLATURE OF THE STATE OF IDAHO ]]]] Fifty-eighth Legislature First Regular Session - 2005 IN THE HOUSE OF REPRESENTATIVES HOUSE BILL NO. 398 BY WAYS AND MEANS COMMITTEE 1 AN ACT 2 RELATING TO BUDGET REQUESTS OF TAXING DISTRICTS; AMENDING CHAPTER 8, TITLE 63, 3 IDAHO CODE, BY THE ADDITION OF A NEW SECTION 63-802B, IDAHO CODE, TO PRO- 4 VIDE A LIMITATION ON BUDGET REQUESTS OF TAXING DISTRICTS BY APPLYING TAX 5 LEVIES AGAINST THE MARKET VALUE OF PERSONAL PROPERTY, TO PROVIDE FOR CON- 6 SOLIDATED TAXING DISTRICTS, AND TO PROVIDE THE EFFECT OF ANNEXATION; 7 DECLARING AN EMERGENCY AND PROVIDING RETROACTIVE APPLICATION. 8 Be It Enacted by the Legislature of the State of Idaho: 9 SECTION 1. That Chapter 8, Title 63, Idaho Code, be, and the same is 10 hereby amended by the addition thereto of a NEW SECTION, to be known and des- 11 ignated as Section 63-802B, Idaho Code, and to read as follows: 12 63-802B. LIMITATION ON BUDGET REQUESTS -- LIMITATION ON TAX CHARGES FOR 13 PERSONAL PROPERTY TAX -- EXCEPTIONS. For tax year 2005, and each year there- 14 after, in any budget request from a taxing district, the portion of the total 15 levies that is to be derived from levies on personal property shall not exceed 16 one hundred five percent (105%) of the amount received from tax levies against 17 the market value of personal property in tax year 2004. If taxing districts 18 are consolidated, the resulting district is entitled to an amount equal to the 19 sum of the amounts which were received in the last tax year by each district 20 pursuant to this section prior to the consolidation. If a taxing district 21 annexes territory, the district shall not be entitled to any additional moneys 22 from a levy against personal property. The state tax commission shall notify 23 each taxing district by June 15 of each year of the amount of money it 24 received from tax levies against personal property in tax year 2004. 25 SECTION 2. An emergency existing therefor, which emergency is hereby 26 declared to exist, this act shall be in full force and effect on and after its 27 passage and approval, and retroactively to January 1, 2005.
STATEMENT OF PURPOSE RS 15222 This legislation would provide a limitation on budget requests of taxing districts by applying a cap against the market value of personal property. FISCAL NOTE There is no fiscal impact to the general fund. Contact Name: Rep. Mike Moyle Phone: (208) 332-1000 STATEMENT OF PURPOSE/FISCAL NOTE H 398