Idaho Industry Presents it’s Own Personal Property Tax Repeal Bill
BOISE, Idaho (AP) — The Idaho Association of Commerce and Industry told a House panel its $120 million proposal to eliminate the state's business personal property tax by 2020 will protect local governments' funding while stimulating the economy.
The measure was introduced Friday morning in the House Revenue and Taxation Committee. It has Gov. C.L. "Butch" Otter's backing. This introduction comes a day after the Idaho Association of Counties unveiled a competing bill that would cost the state $20 million but still eliminate the tax for most small businesses.
Both measures are now due a full hearing Tuesday, though the committee won't vote the same day. Not everybody voted to introduce IACI's bill. Rep. JoAn Wood of Rigby fears Idaho's economy is still too fragile to commit to chipping $120 million into tax relief.