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ID H0506

Bill

Official Source

Status

Introduced

2/13/2014

Primary Sponsor

Revenue and Taxation Committee

Click for details

Origin

House of Representatives

2014 Regular Session

AI Summary

  • Amends Idaho Code Section 63-602JJ to clarify that only property actually used in electricity production or functioning as a substation qualifies for property tax exemption for wind and geothermal energy producers
  • Buildings or structures on the property where electricity is not actually produced and that do not function as substations are ineligible for the exemption
  • Personal property is excluded from this exemption unless it qualifies for exemption under other provisions of Idaho law
  • Act takes effect immediately upon passage and approval, with retroactive application to January 1, 2014
  • Declared as emergency legislation

Legislative Description

Amends existing law to provide that property must actually be used in the actual production of electricity or be a substation to receive the exemption from taxation for certain producers of electricity, to provide that buildings or structures on the property where electricity is not actually produced or is not a substation shall not qualify for the exemption and to provide no personal property shall be exempt from taxation because of this section unless it is exempt from taxation as otherwise provided by law.

PROPERTY TAXATION

Last Action

Reported Printed and Referred to Revenue & Taxation

2/14/2014

Full Bill Text

No bill text available