House Bill 690 Summary

• Authorizes the Idaho Transportation Board and Department of Commerce to create Transportation and Economic Development Zones (TEDZ) around state highway projects costing at least $100 million.

• Requires approved projects to be regional in nature, connect multiple political subdivisions, generate cumulative revenue positive sales tax impacts equal to debt service coverage ratio, and produce total revenue positive economic impacts at least two times greater than construction costs over 30 years.

• Establishes separate state treasury accounts for each approved project into which one-twelfth of monthly debt service payments are deposited from state sales tax revenues beginning 60 days after zone formation.

• Requires engagement of an independent economist to forecast revenue impacts, establish zone boundaries, and analyze all revenue associated with the project during a 30-year period following zone establishment.

• Mandates expeditious project construction with unused deposits reverting to the general fund if not expended within 10 years from deposit.