2005 Idaho Code - 63-2908 — SALES AND USE TAX INCENTIVES -- REBATES -- RECAPTURE

                                  TITLE  63
                             REVENUE AND TAXATION
                                  CHAPTER 29
            THE IDAHO CORPORATE HEADQUARTERS INCENTIVE ACT OF 2005
    63-2908.  SALES AND USE TAX INCENTIVES -- REBATES -- RECAPTURE. (1) For
calendar years beginning on January 1, 2005, and ending on December 31, 2009,
subject to the limitations of this chapter, a taxpayer who has certified that
the tax incentive criteria will be met within the project site shall be
entitled to receive a rebate of all sales and use taxes imposed by chapter 36,
title 63, Idaho Code, and that the taxpayer or its contractors actually paid
in regard to any property constructed, located or installed within the project
site during the project period for that site.
    (2)  Upon filing of a written refund claim by the taxpayer entitled to the
rebate, and subject to such reasonable documentation and verification as the
commission may require, the rebate shall be paid by the commission as a refund
allowable under section 63-3626, Idaho Code. A claim for rebate under this
section must be filed on or before the last day of the third calendar year
following the year in which the taxes sought to be rebated were paid or the
right to the rebate is lost.
    (3)  Any rebate paid shall be subject to recapture by the commission:
    (a)  At one hundred percent (100%) in the event that the tax incentive
    criteria are not met at the project site during the project period, or
    (b)  In the event that the property is not used, stored or otherwise
    consumed within the project site for a period of sixty (60) consecutive
    full months after the property was placed in service, or
    (c)  In the event that the employment required in section 63-2902(2)(j),
    Idaho Code, is not maintained for sixty (60) consecutive full months from
    the date the project period ends.
    (d)  Any recapture required by subsection (3)(b) or (3)(c) of this section
    shall be in the same proportion as an amount of credit required to be
    recaptured under section 63-3029B, Idaho Code.
    (4)  Any recapture amount due under this section shall be a deficiency in
tax for the period in which the disqualification first occurs for purposes of
section 63-3629, Idaho Code, and may be enforced and collected in the manner
provided by the Idaho sales tax act, provided however, that in lieu of the
provisions of section 63-3633, Idaho Code, the period of time within which the
commission may issue a notice under section 63-3629, Idaho Code, in regard to
an amount subject to recapture, shall be the later of five (5) years after the
end of the taxable year, for income tax purposes, in which the project period
ends.
    (5)  The rebate allowed by this section is limited to sales and use taxes
actually paid by the taxpayer or its contractors for taxable property related
to headquarters or administrative facilities.