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ID H0560
Bill
Status
2/13/2018
Primary Sponsor
Revenue and Taxation Committee
Click for details
AI Summary
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Adds Section 63-802D to Idaho Code requiring a mandatory disclosure statement on all bond election ballots in taxing districts
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County clerk must include statement showing average annual tax cost per $100,000 in taxable property owned and the bond duration
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Calculation method: total bonded amount (principal plus net interest) divided by most recent taxable district value, divided by bond years, multiplied by 100,000
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Disclosure statement must include notice that yearly taxes could increase or decrease based on changes in taxable property value and bond repayment structure
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Multiple disclosure statements required if ballot includes more than one bond vote, with separate statement for each bond proposal
Legislative Description
Adds to existing law to provide language to be placed on the ballot in a bond election.
BOND ELECTIONS
Last Action
U.C. to be returned to Revenue & Taxation Committee
2/20/2018