ID H0235

Allows county commissioners to exempt all or part of the change in base value of property attributable to plant investments meeting specified tax incentive criteria, rather than just the total market value of a defined project.

Reduces the minimum capital investment requirement from $3,000,000 to an amount set by county ordinance of at least $500,000, allowing each county to establish uniform investment thresholds for all taxpayers within its jurisdiction.

Permits county commissioners to consider trade secrets in executive sessions when evaluating exemption applications and requires public meetings with at least 5 days' notice to affected taxing districts, urban renewal agencies, and the Idaho Department of Commerce before granting exemptions.

Allows exemptions for up to 5 years and establishes that the exemption is a binding contract that cannot be subject to annual approval requirements, but authorizes unilateral termination if the project changes such that it no longer qualifies.

Clarifies that exempted property shall not be included on new construction rolls until the exemption ceases.