2005 Idaho Code - 33-1010 — APPORTIONMENTS WHEN MINES NET PROFITS CONSIDERED

                                  TITLE  33
                                  EDUCATION
                                  CHAPTER 10
                            FOUNDATION PROGRAM --
                          STATE AID -- APPORTIONMENT
    33-1010.  APPORTIONMENTS WHEN MINES NET PROFITS CONSIDERED. In any school
district in which mines net profits are made a part of the total assessed
value of taxable property, should the amount of such net profits certified as
required by section 63-2803, Idaho Code, be lower in any year than for the
immediately preceding year in an amount equaling five per cent (5%) or more of
the total assessed value of taxable property of the district for the preceding
year, then the state department of education shall compute the adjusted value
of taxable property in the district for the purposes of section 33-1009, Idaho
Code, by subtracting from the adjusted value of property in the district for
the preceding year, the total of such decrease in mines net profits tax.
    The county auditor of each county in which the net profits of mines are
made a part of the total assessed value of taxable property of any school
district, shall annually examine the reports of mines net profits certified to
the county assessor as required by section 63-2803, Idaho Code, and shall
certify to the state department of education not later than the fifteenth day
of June of each year, the net profits of mines creditable to each school
district in said county.