An annual business tax break of up to $120 million would be phased in over five years, under legislation introduced this morning at the request of the Idaho Association of Commerce and Industry. The bill to phase in the repeal of the personal property tax on business machinery, tools, furnishings, equipment and fixtures was introduced in the Rev & Tax Committee on a voice vote with just one recorded dissent, from Rep. Nicole LeFavour, D-Boise. The bill lists 31 legislative co-sponsors, including one Democrat (Rep. James Ruchti), Rev & Tax Chairman Dennis Lake of Blackfoot, and Senate Finance Chairman Dean Cameron of Rupert. A second Democrat, Rep. Anne Pasley-Stuart of Boise, was initially listed as a co-sponsor but today pulled her name from the bill.
Betsy Z. Russell covers Idaho news from The Spokesman-Review's bureau in Boise.
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