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ID H0153
Bill
Status
3/1/2017
Primary Sponsor
Revenue and Taxation Committee
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AI Summary
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Extends the sunset date for timber productivity valuation criteria and forest management cost allowances from January 1, 2017 to January 1, 2022 in Idaho Code Section 63-1705.
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Maintains the guiding discount rate at 4% and real price appreciation rate at 1.25% for timber products through January 1, 2022.
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Continues forest management cost allowance (FMCA) calculations based on 2004 negotiated custodial rates indexed by the 10-year rolling average producer price index changes through January 1, 2022.
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Makes technical corrections including changing "not less" to "no fewer" in CFTM membership provisions for forest landowners owning at least 5,000 acres.
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Declares an emergency and provides retroactive application to January 1, 2017.
Legislative Description
Amends existing law to extend a sunset date on the use of certain criteria regarding timber productivity valuation and forest management cost allowances.
FOREST LANDS TAXATION
Last Action
Reported Signed by Governor on March 1, 2017 Session Law Chapter 48 Effective: Retroactive to 01/01/2017
3/1/2017