Loading chat...
ID H0329
Bill
Status
3/27/2025
Primary Sponsor
Revenue and Taxation Committee
Click for details
AI Summary
-
Replaces property tax on rate-regulated electric utilities with a kilowatt-hour tax of $0.000923 per kilowatt-hour sold to retail customers in Idaho, effective January 1, 2026
-
Imposes thermal energy taxes on natural gas companies: $0.010802 per therm for rate-regulated affiliated gas companies, and $0.00329 per therm for rate-regulated gas companies (plus $0.00041 per therm for transport gas delivery)
-
Exempts electricity used for pumping water for irrigation or drainage from the kilowatt-hour tax, with utilities required to credit or refund the exemption amount to qualifying consumers
-
Distributes collected taxes to counties and taxing districts based on proportions from 2025 property tax levies on utility operating property, with taxing districts formed after January 1, 2025 ineligible for distributions
-
Requires rate-regulated utilities to file annual statements of kilowatt-hours and therms sold by April 15, with taxes due June 30; late payments incur 5% penalty plus 1% monthly interest
Legislative Description
Amends and adds to existing law to provide certain property tax exemptions for certain utilities and to provide for a tax on rate-regulated electric companies and gas companies.
TAXATION
Last Action
Reported Signed by Governor on March 27, 2025 Session Law Chapter 188 Effective: 01/01/2026
3/27/2025