ID H0098

Repeals Chapter 20, Title 50, Idaho Code, which contained the state's urban renewal law.

Local governing bodies assume fiduciary responsibility for all obligations and liabilities incurred by urban renewal agencies prior to the repeal.

Local governing bodies must retire existing financial obligations in a manner consistent with the terms under which they were originally incurred.

Any urban renewal area revenues exceeding amounts needed to meet existing financial obligations, including those under urban renewal plans, competitively disadvantaged border community area ordinances, revenue allocation bonds, and agreements, shall be distributed to taxing districts on a pro rata basis.