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ID H0440
Bill
Status
3/13/2014
Primary Sponsor
Revenue and Taxation Committee
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AI Summary
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Adds new Section 63-205B to Idaho Code establishing specific assessment criteria for rate-regulated electric utility companies' operating property
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Limits cost approach weighting to no more than 20% when using the historic cost less depreciation (HCLD) method in system value correlation
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Requires normalized income calculations using at least four years of average net operating income adjusted for unusual nonrecurring items, with a market discount rate that includes flotation costs
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Places 80-100% weighting on the income approach in system value correlation, with prescribed weightings controlling over other weighting methods
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Authorizes the State Tax Commission to promulgate rules to implement these provisions and declares the act effective retroactively to January 1, 2014
Legislative Description
Adds to existing law to establish special provisions for assessment of operating property of rate regulated electric utility companies.
PROPERTY TAXES
Last Action
Reported Signed by Governor on March 13, 2014 Session Law Chapter 76 Effective: 01/01/2014
3/13/2014