ID H0568

Amends Section 50-2904, Idaho Code, regarding revenue allocation areas in urban renewal plans and competitively disadvantaged border community area ordinances.

Requires that any annual revenue allocation area revenues exceeding the amount necessary to repay revenue allocation bonds be returned to taxing districts on a pro rata basis.

Maintains the 24-year maximum duration for revenue allocation provisions, with exceptions allowing extensions if bond maturity exceeds 24 years (up to 30 years maximum) or if refinancing is necessary to avoid default.

Allows duration extensions beyond 24 years for urban renewal plans or border community ordinances adopted prior to July 1, 2000, that defined a longer duration period.

Extends the pro rata revenue return requirement to any revenues exceeding bond repayment amounts during extension periods beyond the initial 24-year maturity.