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ID H0359
Bill
Status
3/1/2016
Primary Sponsor
Revenue and Taxation Committee
Click for details
AI Summary
House Bill 359 Summary
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Amends Section 63-201 of Idaho Code to modify the definition of "Operating property" for property tax purposes.
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Excludes operating property from taxable value when a levy is to be made against real property only, while maintaining inclusion for other levy purposes.
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Applies to real and personal property operated in connection with public utilities, railroads, and private railcar fleets that are necessary for their maintenance and operation.
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Preserves existing exclusions of intangible personal property and other personal property from taxable value of operating property per sections 63-602L and 63-602KK of Idaho Code.
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Takes effect upon enactment and applies to property tax purposes under Idaho Code chapters 1 through 23, title 63.
Legislative Description
Amends existing law to provide that operating property shall not be included in the taxable value for the purpose of making a levy that is to be made against real property only.
PROPERTY TAXES
Last Action
Reported Signed by Governor on March 1, 2016 Session Law Chapter 29 Effective: 07/01/2016
3/1/2016