Idaho Personal Property Tax Bills in Front of Lawmakers
BOISE, Idaho (AP) — The House is finally set to introduce two competing bills to cut Idaho’s business personal property tax, with one measure backed by counties and one by industry. Rep. Gary Collins, House Revenue and Taxation Committee chairman, said Tuesday he’ll schedule hearings Thursday or Friday.
One, from the Idaho Association of Counties, would eliminate the tax for 89 percent of businesses in Idaho. It mirrors a 2008 law that’s yet to take effect and would cost the state $19 million, to replace tax revenue that now flows to counties.
The other, more-ambitious measure, from the Idaho Association of Commerce and Industry, would cost $120 million. Under this latest IACI bill, regulated utilities would only get the break on new equipment. It was drafted with help from Gov. C.L. “Butch” Otter’s administration.