ID counties float new personal property tax bill
Counties float new bill to repeal a portion of Idaho personal property tax; hearing Tuesday
BOISE, Idaho (AP) -- The House Revenue and Taxation Committee will hold a hearing Tuesday on a new, county-backed bill to repeal a portion of Idaho's personal property tax,
The Association of Counties' measure, unveiled Monday afternoon, is part of a last-ditch push to pass a business-equipment tax break in the 2013 session's waning days.
The new bill similar to a county proposal from two weeks ago that exempts companies' first $100,000 in business equipment, while this time extending the break to railroads, utilities and pipeline companies.
That would cost Idaho taxpayers $20 million, to replace revenue local governments would lose.
The Idaho Association of Commerce and Industry has favored nearly completely repealing the tax, costing $120 million by 2020.
IACI president Alex LaBeau said Monday he's withholding judgment on the new county measure.
