T50CH29
Title 50 > T50CH29
Sections (16)
50-2901
TITLE 50 MUNICIPAL CORPORATIONS CHAPTER 29 LOCAL ECONOMIC DEVELOPMENT ACT 50-2901. Short title. This act may be known and cited as the Local Economic Development Act. History: [50-2901, added 1988, ch. 210, sec. 1, p. 393.]
50-2902
TITLE 50 MUNICIPAL CORPORATIONS CHAPTER 29 LOCAL ECONOMIC DEVELOPMENT ACT 50-2902. Findings and purpose. It is hereby found and declared that there exists in municipalities a need to raise revenue to finance the economic growth and development of urban renewal areas and competitively disadvantaged border community areas. The purpose of this act is to provide for the allocation of a portion of the property taxes levied against taxable property located in a revenue allocation area for a limited period of time to assist in the financing of urban renewal plans, to encourage private development in urban renewal areas and competitively disadvantaged border community areas, to prevent or arrest the decay of urban areas due to the inability of existing financing methods to promote needed public improvements, to encourage taxing districts to cooperate in the allocation of future tax revenues arising in urban areas and competitively disadvantaged border community areas in order to facilitate the long-term growth of their common tax base, and to encourage private investment within urban areas and competitively disadvantaged border community areas. The foregoing purposes are hereby declared to be valid public purposes for municipalities. History: [50-2902, added 1988, ch. 210, sec. 2, p. 393; am. 1990, ch. 430, sec. 3, p. 1190; am. 1994, ch. 381, sec. 1, p. 1223.]
50-2903
TITLE 50 MUNICIPAL CORPORATIONS CHAPTER 29 LOCAL ECONOMIC DEVELOPMENT ACT 50-2903. Definitions. The following terms used in this chapter shall have the following meanings, unless the context otherwise requires: (1) Act or this act means this revenue allocation act. (2) Agency or urban renewal agency means a public body created pursuant to section 50-2006 , Idaho Code. (3) Authorized municipality or municipality means any county or incorporated city that has established an urban renewal agency or by ordinance has identified and created a competitively disadvantaged border community. (4) Except as provided in section 50-2903A , Idaho Code, base assessment roll means the equalized assessment rolls, for all classes of taxable property, on January 1 of the year in which the local governing body of an authorized municipality passes an ordinance adopting or modifying an urban renewal plan containing a revenue allocation financing provision, except that the base assessment roll shall be adjusted as follows: the equalized assessment valuation of the taxable property in a revenue allocation area as shown upon the base assessment roll shall be reduced by the amount by which the equalized assessed valuation as shown on the base assessment roll exceeds the current equalized assessed valuation of any taxable property located in the revenue allocation area and by the equalized assessed valuation of taxable property in such revenue allocation area that becomes exempt from taxation subsequent to the date of the base assessment roll. The equalized assessed valuation of the taxable property in a revenue allocation area as shown on the base assessment roll shall be increased by the equalized assessed valuation, as of the date of the base assessment roll, of taxable property in such revenue allocation area that becomes taxable after the date of the base assessment roll. Any increase in valuation due to property owned, leased, or used in the operation of a business entity that makes capital investments in one (1) or more data centers, as defined in section 63-3622VV (2)(f), Idaho Code, after July 1, 2020, in amounts of at least two hundred fifty million dollars ($250,000,000) in the aggregate within the first five (5) years after commencement of construction, that creates and maintains at least thirty (30) new jobs at the data center within two (2) calendar years after the commencement of operations, and that is located in a revenue allocation area for which no bonds have been issued pursuant to section 50-2909 , Idaho Code, as of March 16, 2023, shall be added to the base assessment roll in the current tax year. An urban renewal plan containing a revenue allocation financing provision adopted or modified prior to July 1, 2016, is not subject to section 50-2903A , Idaho Code. For plans adopted or modified prior to July 1, 2016, and for subsequent modifications of those urban renewal plans, the value of the base assessment roll of property within the revenue allocation
50-2903A
TITLE 50 MUNICIPAL CORPORATIONS CHAPTER 29 LOCAL ECONOMIC DEVELOPMENT ACT 50-2903A. effect of ordinance to modify urban renewal plan — exception. (1)(a) On and after July 1, 2016, except as provided in subsection (2) of this section, when an urban renewal plan containing a revenue allocation financing provision is modified through an ordinance of the authorized municipality, the base value for the year immediately following the year in which the modification occurred shall include the current year’s equalized assessed value of the taxable property in a revenue allocation area. The urban renewal agency shall be required annually to attest to having or not having modified any of its plans. If no modification has occurred, the urban renewal agency shall attest that fact on an affidavit provided by the state tax commission before the first Monday in June of each year. Modification shall not be deemed to have occurred when: (i) There is a plan amendment to make technical or ministerial changes to a plan that does not involve an increase in the use of revenues allocated to the agency pursuant to section 50-2908 , Idaho Code; or (ii) There is a plan amendment to accommodate an increase in the revenue allocation area boundary as permitted in section 50-2033 , Idaho Code; or (iii) There is a plan amendment to accommodate a de-annexation in the revenue allocation area boundary; or (iv) There is a plan amendment to support growth or development of a commercial, manufacturing, or industrial project in an existing revenue allocation area, subject to the provisions of section 50-2905A , Idaho Code. (b) Notice of any plan modification shall state the nature of the modification and shall be provided to the state tax commission, the county clerk and the county assessor by the first Monday in June of the years following the modification. (c) Once a modification is deemed to have occurred, the base assessment value shall be reset pursuant to this subsection. (2) When the urban renewal agency certifies to the county clerk and state tax commission that there is outstanding indebtedness, the base value for the year immediately following the year in which the modification occurred shall be computed and adjusted irrespective of the modification to the plan, but in compliance with all other requirements for adjustment as provided in section 50-2903 (4), Idaho Code. To be allowed this exception no later than the first Monday in June each year, beginning the year immediately following the year in which the modification occurred, the urban renewal agency must certify: (a) That the indebtedness could not be repaid by the agency prior to the termination of the revenue allocation area without the allocation of property tax revenues as provided in section 50-2908 , Idaho Code; and (b) The estimated total budget to be used for paying indebtedness during each year until termination of the revenue allocation area, the amount of nonproperty tax revenue to be used by the agency to p
50-2904
TITLE 50 MUNICIPAL CORPORATIONS CHAPTER 29 LOCAL ECONOMIC DEVELOPMENT ACT 50-2904. Authority to create revenue allocation area. An authorized municipality is hereby authorized and empowered to adopt, at any time, a revenue allocation financing provision, as described in this chapter, as part of an urban renewal plan or competitively disadvantaged border community area ordinance. A revenue allocation financing provision may be adopted either at the time of the original adoption of an urban renewal plan or the creation by ordinance of a competitively disadvantaged border community area or thereafter as a modification of an urban renewal plan or the ordinance creating the competitively disadvantaged border community area. Urban renewal plans existing prior to the effective date of this section may be modified to include a revenue allocation financing provision. Except as provided in subsections (1), (2), (3), (4), and (5) of this section, no revenue allocation provision of an urban renewal plan or competitively disadvantaged border community area ordinance, including all amendments thereto, shall have a duration exceeding twenty (20) years from the date the ordinance is approved by the municipality; and provided further, no additions to the land area of an existing revenue allocation area shall be interpreted to or shall cause an extension of the date of the twenty (20) year limit that was originally established for the revenue allocation area. Notwithstanding these limitations, the duration of the revenue allocation financing provision may be extended if: (1) The maturity date of any bonds issued to provide funds for a specific project in the revenue allocation area and payable from the revenue allocation financing provision exceeds the duration of the revenue allocation financing provision, provided such bond maturity is not greater than twenty (20) years; or (2) The urban renewal agency determines that it is necessary to refinance outstanding bonds payable from the revenue allocation financing provision to a maturity exceeding the twenty (20) year duration of the revenue allocation financing provision in order to avoid a default on the bonds; or (3) The local governing body has adopted an urban renewal plan or competitively disadvantaged border community area ordinance or an amendment to an urban renewal plan or competitively disadvantaged border community area ordinance prior to July 1, 2000, in which is defined the duration of the plan beyond a period of twenty (20) years, in which case the revenue allocation provision shall have a duration as described in such urban renewal plan or competitively disadvantaged border community area ordinance or may be extended as set forth in subsection (2) of this section; or (4) The local governing body has adopted an urban renewal plan or competitively disadvantaged border community area ordinance or an amendment to an urban renewal plan or competitively disadvantaged border community area ordinance after Ju
50-2905
TITLE 50 MUNICIPAL CORPORATIONS CHAPTER 29 LOCAL ECONOMIC DEVELOPMENT ACT 50-2905. Recommendation of urban renewal agency. In order to implement the provisions of this chapter, the urban renewal agency of the municipality shall prepare and adopt a plan for each revenue allocation area and submit the plan and recommendation for approval thereof to the local governing body. The plan shall include with specificity: (1) A statement describing the total assessed valuation of the base assessment roll of the revenue allocation area and the total assessed valuation of all taxable property within the municipality; (2) A statement listing the kind, number, and location of all proposed public works or improvements within the revenue allocation area; (3) An economic feasibility study; (4) A detailed list of estimated project costs; (5) A fiscal impact statement showing the impact of the revenue allocation area, both until and after the bonds are repaid, upon all taxing districts levying taxes upon property on the revenue allocation area; (6) A description of the methods of financing all estimated project costs and the time when related costs or monetary obligations are to be incurred; (7) A termination date for the plan and the revenue allocation area as provided for in section 50-2903 (21), Idaho Code. In determining the termination date, the plan shall recognize that the agency shall receive allocation of revenues in the calendar year following the last year of the revenue allocation provision described in the urban renewal plan; (8) A description of the disposition or retention of any assets of the agency upon the termination date. Provided however, nothing herein shall prevent the agency from retaining assets or revenues generated from such assets as long as the agency shall have resources other than revenue allocation funds to operate and manage such assets; and (9) Any changes to an urban renewal plan as provided in subsections (2) and (6) of this section shall be noticed and shall be completed in an open public meeting. History: [50-2905, added 1988, ch. 210, sec. 5, p. 397; am. 2002, ch. 143, sec. 4, p. 401; am. 2011, ch. 317, sec. 8, p. 923; am. 2016, ch. 349, sec. 5, p. 1022; am. 2025, ch. 300, sec. 10, p. 1270.]
50-2905A
TITLE 50 MUNICIPAL CORPORATIONS CHAPTER 29 LOCAL ECONOMIC DEVELOPMENT ACT 50-2905A. election necessary for expenditures on certain projects. (1) Notwithstanding any other provision of this chapter, on and after the effective date of this act, it shall be unlawful for an urban renewal agency to expend revenue collected under this chapter on project costs when either the amount of revenue collected under this chapter, or the amount of revenue collected under this chapter plus any other public funds, not including federal funds or federal funds administered by a public body, contributes to fifty-one percent (51%) or more of the total project cost and the project is for construction of a municipal building or a multipurpose sports stadium complex, or the remodel of such a building or complex, with a total project cost exceeding one million dollars ($1,000,000) unless such construction project is first approved in an election by sixty percent (60%) of the participating qualified electors residing within the borders of the qualified municipality. An election pursuant to this section shall be in accordance with the provisions of chapter 1, title 34 , Idaho Code. The total project cost described in this subsection shall not include the cost of any infrastructure or belowground improvements including, but not limited to, water, sewer, storm drainage, electrical, natural gas, telecommunication, or other similar systems and lines, streets, roads, curbs, gutters, sidewalks, walkways, parking facilities, or unoccupied auxiliary structures. This section shall not be construed to require an election regarding bonds issued prior to the effective date of this act. (2) For purposes of this section, the following terms shall have the following meanings: (a) Multipurpose sports stadium complex means a place or venue for indoor or outdoor sports, concerts, or other events that contains a field or other playing surface or area either partly or completely surrounded by a tiered structure designed to allow spectators to stand or sit and view the event; (b) Municipal building means only an administrative building, city hall, library, courthouse, public safety or law enforcement buildings, other judicial buildings, fire stations, jails, and detention facilities that are not subject to property taxation whether they are, or are intended to be, owned or operated by or leased to a public body for the public’s benefit; (c) Project costs shall have the same meaning as provided in section 50-2903 (15), Idaho Code; (d) Public body shall have the same meaning as provided in section 50-2018 (3), Idaho Code; (e) Public funds shall mean the funds collected or received by a public body but shall not include grants or donations from private entities or individuals to the public body. History: [50-2905A, added 2016, ch. 349, sec. 6, p. 1023; am. 2017, ch. 27, sec. 1, p. 50; am. 2019, ch. 321, sec. 1, p. 956; am. 2025, ch. 300, sec. 11, p. 1271.]
50-2906
TITLE 50 MUNICIPAL CORPORATIONS CHAPTER 29 LOCAL ECONOMIC DEVELOPMENT ACT 50-2906. Public hearing and ordinance required — special rules for certain taxing districts. (1) To adopt a new urban renewal plan or create a competitively disadvantaged border community area containing a revenue allocation financing provision, the local governing body of an authorized municipality must enact an ordinance in accordance with chapter 9, title 50 , Idaho Code, and section 50-2008 , Idaho Code. To modify an existing urban renewal plan, to add or change a revenue allocation, an authorized municipality must enact an ordinance in accordance with chapter 9, title 50 , Idaho Code, and conduct a public hearing as provided in section 50-2008 (c), Idaho Code. No urban renewal project, plan, competitively disadvantaged border community area or modification thereto, or revenue allocation financial provision shall be held ineffective for failure to comply with the requirements of this section if compliance with the section is substantial and in good faith and administrative authority of both the local governing body and urban renewal agency does not extend beyond the municipal boundary of the authorized municipality. Urban renewal plans and revenue allocation financing provisions may be held ineffective if an urban renewal area or revenue allocation area extends outside the municipal boundary of an authorized municipality and a transfer of powers ordinance has not been adopted by the cooperating county. (2) A revenue allocation financing provision adopted in accordance with this chapter shall be effective retroactively to January 1 of the year in which the local governing body of the authorized municipality enacts such ordinance. (3)(a) Prior to taking action on an ordinance to adopt a revenue allocation financing provision, the local governing body of an authorized municipality shall prepare a notice stating: (i) That an urban renewal plan or modification thereto or a competitively disadvantaged border community area has been proposed and is being considered for adoption, and that such plan or modification thereto or proposal to create a competitively disadvantaged border community area contains a revenue allocation financing provision that will cause property taxes resulting from any increases in equalized assessed valuation in excess of the equalized assessed valuation as shown on the base assessment roll to be allocated to the agency for urban renewal and competitively disadvantaged border community area purposes; (ii) That an agreement on the administration of a revenue allocation financing provision extending beyond the municipal boundary of the authorized municipality has been negotiated with the cooperating county having extraterritorial power and that the agreement has been formalized by a transfer of power ordinance adopted by that county; and (iii) That a public hearing on such plan or modification will be held by the local governing body pursuant to section 5
50-2907
TITLE 50 MUNICIPAL CORPORATIONS CHAPTER 29 LOCAL ECONOMIC DEVELOPMENT ACT 50-2907. Transmittal of revenue allocation area description and other documents to taxing agencies. (1) After the effective date of an ordinance enacted by the local governing body of an authorized municipality, the clerk of the authorized municipality shall transmit, to the county auditor and tax assessor of the county in which the revenue allocation area is located, to the affected taxing districts, and to the state tax commission, a copy of the ordinance enacted, a copy of the legal description of the boundaries of the revenue allocation area, and a map indicating the boundaries of the revenue allocation area. (2) For revenue allocation areas extending beyond the corporate municipal boundary of the authorized municipality, the copy of the ordinance enacted by the authorized municipality shall include, as an attachment, a copy of the transfer of powers ordinance adopted by the cooperating county under section 50-2906 (3)(a)(ii), Idaho Code. (3) Such documents shall be transmitted within the time required by section 63-215 , Idaho Code. History: [50-2907, added 1988, ch. 210, sec. 7, p. 398; am. 2000, ch. 114, sec. 1, p. 252; am. 2000, ch. 162, sec. 2, p. 411; am. 2025, ch. 300, sec. 6, p. 1265.]
50-2908
TITLE 50 MUNICIPAL CORPORATIONS CHAPTER 29 LOCAL ECONOMIC DEVELOPMENT ACT 50-2908. Determination of tax levies — Creation of special fund. (1) For purposes of calculating the rate at which taxes shall be levied by or for each taxing district in which a revenue allocation area is located, the county commissioners shall, with respect to the taxable property located in such revenue allocation area, use the equalized assessed value of such taxable property as shown on the base assessment roll rather than on the current equalized assessed valuation of such taxable property, except the current equalized assessed valuation shall be used for calculating the tax rate for: (a) Levies for refunds and credits pursuant to section 63-1305 , Idaho Code, and any judgment pursuant to section 33-802 (1), Idaho Code, certified after December 31, 2007; (b) Levies permitted pursuant to section 63-802 (3), Idaho Code, certified after December 31, 2007; (c) Levies for voter-approved general obligation bonds of any taxing district and plant facility reserve fund levies passed after December 31, 2007; (d) Levies for payment of obligations that have been judicially confirmed pursuant to chapter 13, title 7 , Idaho Code, and that meet the criteria of sections 63-1315 and 63-1316 , Idaho Code; (e) Levies set forth in paragraphs (a) through (d) of this subsection, first certified prior to December 31, 2007, when the property affected by said levies is included within the boundaries of a revenue allocation area by a change in the boundaries of either the revenue allocation area or any taxing district after December 31, 2007; (f) School levies for supplemental maintenance and operation pursuant to section 33-802 (3) and (4), Idaho Code, approved after December 31, 2007, and for emergency funds pursuant to section 33-805 , Idaho Code, approved after July 1, 2015; and (g) Levies of fire protection districts pursuant to chapter 14, title 31 , Idaho Code, and ambulance services districts pursuant to chapter 39, title 31 , Idaho Code, that are exempt from being subject to a revenue allocation financing provision pursuant to section 50-2906 (4), Idaho Code, or that withdraw from being subject to a revenue allocation financing provision pursuant to section 50-2906 (5), Idaho Code. (2) With respect to each such taxing district, the tax rate calculated under subsection (1) of this section shall be applied to the current equalized assessed valuation of all taxable property in the taxing district, including the taxable property in the revenue allocation area. The tax revenues thereby produced shall be allocated as follows: (a) To the taxing district shall be allocated and shall be paid by the county treasurer: (i) All taxes levied by the taxing district or on its behalf on taxable property located within the taxing district but outside the revenue allocation area; (ii) Except as otherwise provided in subparagraph (iv) of this paragraph, a portion of the taxes levied by the taxing distric
50-2909
TITLE 50 MUNICIPAL CORPORATIONS CHAPTER 29 LOCAL ECONOMIC DEVELOPMENT ACT 50-2909. Issuance of bonds — Bond provisions. (1) If the local governing body of an authorized municipality has enacted an ordinance adopting a revenue allocation financing provision as part of an urban renewal plan, the urban renewal agency established by such municipality is hereby authorized and empowered: (a) To apply the revenues allocated to it pursuant to section 50-2908 , Idaho Code, for payment of the projected costs of any urban renewal project located in the revenue allocation area; (b) To borrow money, incur indebtedness and issue one (1) or more series of bonds to finance or refinance, in whole or in part, the urban renewal projects authorized pursuant to such plan within the limits established by paragraph (c) of this subsection; and (c) To pledge irrevocably to the payment of principal of and interest on such moneys borrowed, indebtedness incurred or bonds issued by the agency the revenues allocated to it pursuant to section 50-2908 , Idaho Code. All bonds issued under this section shall be issued in accordance with section 50-2012 , Idaho Code, except that such bonds shall be payable solely from the special fund or funds established pursuant to section 50-2908 , Idaho Code. On and after July 1, 2011, bonds may be issued for a maximum period of twenty (20) years. (2) The agency shall be obligated and bound to pay such borrowed moneys, indebtedness, and bonds as the same shall become due, but only to the extent that the moneys are available in a special fund or funds established under section 50-2908 , Idaho Code; and the agency is authorized to maintain an adequate reserve therefor from any moneys deposited in such a special fund or funds. (3) Nothing in this chapter shall in any way impair any powers an urban renewal agency may have under subsection (a) of section 50-2012 , Idaho Code. (4) When the revenue allocation area plan budget described in section 50-2903 (5), Idaho Code, estimates that all financial obligations have been provided for, the principal of and interest on such moneys, indebtedness and bonds have been paid in full, or when deposits in the special fund or funds created under this chapter are sufficient to pay such principal and interest as they come due, and to fund reserves, if any, or any other obligations of the agency funded through revenue allocation proceeds shall be satisfied and the agency has determined no additional project costs need be funded through revenue allocation financing, the allocation of revenues under section 50-2908 , Idaho Code, shall thereupon cease; any moneys in such fund or funds in excess of the amount necessary to pay such principal and interest shall be distributed to the affected taxing districts in which the revenue allocation area is located in the same manner and proportion as the most recent distribution to the affected taxing districts of the taxes on the taxable property located within the revenue allo
50-2910
TITLE 50 MUNICIPAL CORPORATIONS CHAPTER 29 LOCAL ECONOMIC DEVELOPMENT ACT 50-2910. Bonds not general obligation of agency or municipality. Except to the extent of moneys deposited in a special fund or funds under this act and pledged to the payment of the principal of and interest on bonds or other obligations, the agency shall not be liable on any such bonds or other obligations. The bonds issued and other obligations incurred by any agency under this chapter shall not constitute a general obligation or debt of any municipality, the state or any of its political subdivisions. In no event shall such bonds or other obligations give rise to general obligation or liability of the agency, the municipality, the state, or any of its political subdivisions, or give rise to a charge against their general credit or taxing powers, or be payable out of any funds or properties other than the special fund or funds of the agency pledged therefor; and such bonds and other obligations shall so state on their face. Such bonds and other obligations shall not constitute an indebtedness or the pledging of faith and credit within the meaning of any constitutional or statutory debt limitation or restriction. History: [50-2910, added 1988, ch. 210, sec. 10, p. 400.]
50-2911
TITLE 50 MUNICIPAL CORPORATIONS CHAPTER 29 LOCAL ECONOMIC DEVELOPMENT ACT 50-2911. Limitations on review. (1) No direct or collateral action attacking or otherwise questioning the validity of any urban renewal plan, project or modification thereto (including one containing a revenue allocation provision), or the adoption or approval of such plan, project or modification, or any of the findings or determinations of the agency or the local governing body in connection with such plan, project or modification, shall be brought prior to the effective date of the ordinance adopting or modifying the plan. No direct or collateral action attacking or otherwise questioning the validity of bonds issued pursuant to section 50-2909 , Idaho Code, shall be brought prior to the effective date of the resolution or ordinance authorizing such bonds. (2) For a period of thirty (30) days after the effective date of the ordinance or resolution, any person in interest shall have the right to contest the legality of such ordinance, resolution or proceeding or any bonds which may be authorized thereby. No contest or proceeding to question the validity or legality of any ordinance, resolution or proceeding, or any bonds which may be authorized thereby, passed or adopted under the provisions of this chapter shall be brought in any court by any person for any cause whatsoever, after the expiration of thirty (30) days from the effective date of the ordinance, resolution or proceeding, and after such time the validity, legality and regularity of such ordinance, resolution or proceeding or any bonds authorized thereby shall be conclusively presumed. If the question of the validity of any adopted plan or bonds issued pursuant to this chapter is not raised within thirty (30) days from the effective date of the ordinance, resolution or proceeding issuing said bonds and fixing their terms, the authority of the plan, the authority adopting the plan, or the authority to issue the bonds, and the legality thereof, the same shall be conclusively presumed and no court shall thereafter have authority to inquire into such matters. History: [50-2911, added 1988, ch. 210, sec. 11, p. 400; am. 1990, ch. 430, sec. 5, p. 1193.]
50-2912
TITLE 50 MUNICIPAL CORPORATIONS CHAPTER 29 LOCAL ECONOMIC DEVELOPMENT ACT 50-2912. Severability. The provisions of this act are hereby declared to be severable and if any provision of this act or the application of such provision to any person or circumstance is declared invalid for any reason, such declaration shall not affect the validity of remaining portions of this act. History: [50-2912, added 1988, ch. 210, sec. 12, p. 401.]
50-2913
TITLE 50 MUNICIPAL CORPORATIONS CHAPTER 29 LOCAL ECONOMIC DEVELOPMENT ACT 50-2913. urban renewal agency plans — reporting information required — penalties for failure to report. In addition to the provisions applicable to urban renewal agencies in chapters 20 and 29, title 50 , Idaho Code, the provisions of this section shall also apply to urban renewal agencies. For purposes of this section, urban renewal agency shall have the same meaning as provided in chapters 20 and 29, title 50 , Idaho Code. (1) (a) There is hereby established a central registry with the state tax commission. The registry shall serve as the unified location for the reporting of and access to administrative and financial information of urban renewal plans in this state. To establish a complete list of all urban renewal plans of urban renewal agencies operating in Idaho, on the effective date of this act and so that the registry established will be comprehensive, every urban renewal agency shall register with the state registry. For calendar year 2017, the submission of information required by subsection (2) of this section shall occur prior to March 1, 2017, and shall be in the form and format required by the state tax commission. In addition to the information required by this section for the March 1, 2017, filing deadline, the entity shall report the date of its last adoption or amendment or modification of an urban renewal plan. The registry listing will be available on the state tax commission website by July 1, 2017. (b) The state tax commission shall notify each urban renewal agency of the requirements of this section. (c) After March 1, and on or before December 1 of each year, the county clerk of each county shall submit a list to the state tax commission of all urban renewal agencies within the county. (2) On or before December 1 of each year, every urban renewal agency shall submit to the central registry the following information each urban renewal plan adopted or modified pursuant to sections 50-2008 and 50-2905 , Idaho Code, and any modifications or amendments to those plans. (a) Within five (5) days of submitting to the central registry the information required by this section, the urban renewal agency shall notify the agency’s appointing authority, if the entity has an appointing authority, that it has submitted such information. (b) If any information provided by an entity as required by this section changes during the year, the entity shall update its information on the registry within thirty (30) days of any such change. (3) Notification and penalties. (a) If an urban renewal agency fails to submit information required by this section or submits noncompliant information required by this section, the state tax commission shall notify the entity immediately after the due date of the information that either the information was not submitted in a timely manner or the information submitted was noncompliant. The urban renewal agency shall then have thirty (30) da
50-2914
TITLE 50 MUNICIPAL CORPORATIONS CHAPTER 29 LOCAL ECONOMIC DEVELOPMENT ACT 50-2914. Termination of an Urban Renewal Plan and Revenue Allocation financing provision. (1) An urban renewal agency may terminate an urban renewal plan containing a revenue allocation financing provision on or before the termination date in accordance with the provisions of sections 50-2903 (5) and 50-2909 (4), Idaho Code. The urban renewal agency shall consider its ability to receive revenue in the year following the termination date when determining the timing of termination and the termination date. (2) The local governing body of the municipality may initiate termination of an urban renewal plan containing a revenue allocation financing provision before the termination date as follows: (a) The local governing body may adopt a resolution that directs the urban renewal agency to provide a termination plan for the termination of a specified urban renewal plan containing a revenue allocation financing provision to the local governing body within sixty (60) days of the agency’s receipt of the local governing body’s resolution, or such longer period as may be agreed to by the local governing body. Upon the adoption of the resolution, the urban renewal agency governing the urban renewal plan identified in the resolution shall no longer have the authority to enter into any financial obligations secured by the funding from any urban renewal financing provision of any urban renewal plan specified in the resolution, other than such obligations as are necessary to facilitate the termination of the urban renewal plan. (b) The termination plan submitted by the urban renewal agency shall include a detailed summary of all agency obligations under such urban renewal plan and anticipated future obligations to implement the plan through the duration of the plan, including information on the use of revenues collected to fund specific projects and any capital improvement project plans. The termination plan shall also include a proposed termination timeline. (c) The local governing body may then enact an ordinance terminating the urban renewal plan and any revenue allocation financing provisions included in such plan. The ordinance shall be recorded in the real property records of the county in which the agency operated. The local governing body shall transmit a copy of the recorded termination ordinance to the county clerk, any affected taxing districts, and the state tax commission within ten (10) business days of the recording date. History: [50-2914, added 2025, ch. 300, sec. 8, p. 1267.]