Idaho Speaker of the House Scott Bedke said a new personal property tax bill will follow the model of House Bill 272, which is sponsored by the Idaho Association of Counties and Idaho Association of Cities.
The new measure will be introduced at 2:30 p.m. Monday by the House Ways & Means Committee, which will meet in the Joint Finance-Appropriations Committee hearing room on the third floor of the Capitol. Ways & Means is the “leadership committee,” which is controlled by the speaker.
“It will be a version of the counties’ bill,” Bedke said shortly after the House recessed at noon. The House will reconvene at 3:30 p.m. to allow the bill be formally introduced, receive a bill number, be printed and made available online.
House Bill 272 would replace about $19 million in taxes paid on business equipment with state funds and exempt the first $100,000 of property from taxation.
A competing measure, House Bill 276, authored by the Idaho Association of Commerce and Industry, would phase out repeal of the entire tax by 2020, at an ultimate annual cost of $120 million to the state.
IACI President Alex LaBeau said shortly before noon that he was unaware of the new bill or its provisions.