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ID H0631
Bill
Status
3/13/2014
Primary Sponsor
Revenue and Taxation Committee
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AI Summary
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Adds community college district levies approved for tax year 2014 and thereafter to the list of levies that use current equalized assessed valuation for tax rate calculations in urban renewal revenue allocation areas, rather than base assessment roll values.
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Applies the same tax calculation treatment to community college district levies as existing levies for voter-approved general obligation bonds and plant facility reserve funds certified after December 31, 2007.
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Allows community college districts with urban renewal revenue allocation areas to include new construction value increases on their new construction rolls for tax year 2014 and subsequent years, with specific provisions for increment value exceeding December 31, 2006 baselines.
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Makes technical corrections to cross-references in Idaho Code sections 50-2908 and 63-301A related to the new calculation methods and new construction roll provisions.
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Declares an emergency, making the act effective immediately upon passage and approval.
Legislative Description
Amends existing law to provide application for community college district levies approved after a certain date in relation to the calculation of the tax rate; and to provide application of the new construction roll to community college districts that have an urban renewal revenue allocation area within the district.
URBAN RENEWAL
Last Action
Reported Printed and Referred to Revenue & Taxation
3/13/2014