ID H0135

Revenue allocation financing provisions proposed on or after July 1, 2013 require an affirmative vote by registered voters of the city or county that created the urban renewal agency.

Registered voters eligible to vote follow the same procedures as provided in section 50-2006, Idaho Code, as if the revenue allocation financing provision were an urban renewal agency.

Revenue allocation provisions have a maximum duration of 20 years from ordinance approval, with exceptions for bond maturities up to 20 years and refinancing needs to avoid defaults.

Plans adopted before July 1, 2000 may exceed 20 years; plans adopted between July 1, 2000 and July 1, 2011 may exceed 20 years with bond maturities up to 30 years.

Extensions proposed on or after July 1, 2013 require voter approval, and excess revenues during extension periods must be returned to taxing districts on a pro rata basis.