US Laws, Codes, Statutes & Cases

                                  TITLE  63
                             REVENUE AND TAXATION
                                  CHAPTER 6
                           EXEMPTIONS FROM TAXATION
    63-602HH.  PROPERTY EXEMPT FROM TAXATION -- SIGNIFICANT CAPITAL
INVESTMENTS. (1) The net taxable value of all property of a taxpayer in excess
of eight hundred million dollars ($800,000,000) located within a single county
in Idaho shall be exempt from property taxation and any special assessment.
    (2)  The property included in the calculation of the exemption set forth
in this section shall include all real property owned, and all personal
property owned, leased, or rented that would otherwise be subject to property
tax; provided however, with respect to leased or rented personal property,
only that portion of the property which a taxpayer is contractually liable for
payment of property taxes thereon shall be included in the calculation of the
exemption.
    (3)  Leased or rented personal property, included in the calculation of
the exemption provided by this section shall not be assessable against the
owner of such property.
    (4)  The exemption set forth in this section shall apply first to owned
real and personal property and, if exhausted, shall then apply to leased or
rented personal property.
    (5)  The taxpayer owning, leasing, or renting the property included in the
calculation of the exemption shall designate the property to which the
exemption applies.
    (6)  The exemption set forth in this section shall not be available to any
taxpayer with respect to a given year who, in the immediately preceding
calendar year, failed to make significant capital investments of at least
twenty-five million dollars ($25,000,000), by the acquisition or improvement
of real or personal property located within the county referred to in
subsection (1) of this section.
    (7)  The exemption set forth in this section shall not be available to any
taxpayer with respect to a given year who, as of the first day of such year,
did not employ or engage on a regular full-time basis, or the equivalent
thereof, at least one thousand five hundred (1,500) workers within the county
referred to in subsection (1) of this section.
    (8)  Except for the exemption provided for in subsection (4) of section
63-3029B, Idaho Code, no other exemption from property tax or any special
assessment provided by the statutes of this state shall be applicable to any
property described in subsection (2) of this section with respect to a year in
which the exemption set forth in subsection (1) of this section applies to any
of the same property.
    (9)  Property exempted under this section shall not be included on any new
construction roll prepared by the county assessor in accordance with section
63-301A, Idaho Code.
    (10) The state tax commission shall adopt all rules that may be necessary
to implement this section.