ID H0159

Amends Section 50-2903 (Idaho Code) to require county clerks to be notified by the fourth Monday in July of any business receiving the sales tax exemption under Section 63-3622VV, with valuation increases added to the base assessment roll in the current tax year for revenue allocation areas with no issued bonds as of February 15, 2023.

Establishes procedures for invalidating exemptions: if a qualifying business entity fails to meet requirements under Section 63-3622VV, the county clerk must be notified prior to the fourth Monday in July, and taxable property value is removed from the base assessment roll and added to the increment value.

Amends Section 63-3622VV to revise the definition of "qualifying business entity" by changing "meets" to "issues a final certification to the state tax commission that it has met" the required investment and job creation requirements, clarifying the process for converting provisional exemptions to final exemptions.

Adds new subsection (4) to Section 63-3622VV requiring the state tax commission to notify the county clerk within 30 days of a qualifying business entity's certification or exemption invalidation, with mandatory disclosure permitted under this subsection.

Declares the act to be effective upon passage and approval, retroactively to February 15, 2023, and includes severability provisions.