HB 663 Summary

• Amends Idaho Code Section 63-602NN to allow county boards of commissioners to exempt property tax increases from plant or building investments that meet specified criteria.

• Requires counties to establish a minimum investment threshold of at least $500,000 by ordinance and ensures uniformity for all taxpayers within the county.

• Limits tax exemptions to non-retail facilities for commercial, residential, or industrial purposes that provide significant economic benefits to the county.

• Allows exemptions for up to five years as a contract arrangement between the county and taxpayer, with provision for termination if the project's use or nature changes.

• Becomes effective July 1, 2022, and exempted property shall not be included on new construction rolls during the exemption period.