ID H0591

Exempts from property taxation and special assessments the net taxable value of all property exceeding $400,000,000 located within a single Idaho county when a taxpayer makes a qualifying new capital investment of at least $1,000,000,000.

Expands the definition of "qualifying new capital investment" to include acquisition, construction, improvement or installation of real, operating or personal property related to new plant and building facilities.

Defines the qualifying period as an 84-month period beginning with the first inspection or issuance of a building permit for a permanent building structure at a project site, but no earlier than January 1, 2008.

Property included in the investment calculation encompasses all real or operating property owned and all personal property owned, leased or rented, with only the taxpayer's contractually liable portion of leased or rented personal property counted.

Prohibits exempt property from being included on county assessor property rolls or new construction rolls, and prevents application of other state property tax exemptions to property receiving this exemption.