ID S1054

Amends Idaho Code Section 63-602G to allow homeowners to maintain their property tax exemption when absent from their primary residence due to active military service in a designated combat zone as defined in Internal Revenue Code Section 112.

Permits homesteads to be leased while the owner is on active military duty in a designated combat zone without losing the exemption qualification.

Allows county commissioners to refund property taxes if an owner fails to timely apply for the exemption solely due to active duty in a designated combat zone, provided the homestead would have otherwise qualified.

Applies the exemption protection to owners, beneficiaries, partners, members, or shareholders of entities holding the homestead.

Declares an emergency and provides retroactive application to January 1, 2011.