The House Revenue & Taxation Committee this morning introduced the sweeping personal property tax elimination bill proposed by the IACI, the Idaho Association of Commerce & Industry. Yesterday, the same committee introduced a much more modest bill from the Idaho Association of Counties, to instead pull the trigger on a never-implemented 2008 law that would exempt 90 percent of Idaho’s businesses from the tax, by exempting the first $100,000 of personal property in each county for all taxpayers. According to reporter Kevin Richert of Idaho EducationNews, the committee will discuss both bills on Tuesday, but won’t vote. One big difference between the two bills is their price tag for the state: $120 million for the IACI bill, and $18 to $19 million for the counties' bill.
Richert has a full report here.