Amends existing law to revise a sales tax exemption for data center equipment and to revise a certain property tax exemption for certain capital investments.

LEGISLATURE OF THE STATE OF IDAHO Sixty-eighth Legislature Second Regular Session - 2026 IN THE HOUSE OF REPRESENTATIVES HOUSE BILL NO. 897 BY WAYS AND MEANS COMMITTEE AN ACT1 RELATING TO TAXATION; AMENDING SECTION 63-3622VV, IDAHO CODE, TO REVISE PRO-2 VISIONS REGARDING THE IDAHO INFORMATION TECHNOLOGY EQUIPMENT SALES TAX3 EXEMPTION; AMENDING SECTION 63-4502, IDAHO CODE, TO LIMIT ELIGIBILITY4 FOR THE TAX EXEMPTION FOR NEW CAPITAL INVESTMENTS AND TO MAKE TECHNICAL5 CORRECTIONS; AMENDING SECTION 50-2903, IDAHO CODE, TO PROVIDE A CORRECT6 CODE REFERENCE; AND DECLARING AN EMERGENCY AND PROVIDING RETROACTIVE7 APPLICATION.8

Be It Enacted by the Legislature of the State of Idaho:9

SECTION 1. That Section 63-3622VV, Idaho Code, be, and the same is10 hereby amended to read as follows:11 63-3622VV. IDAHO INFORMATION TECHNOLOGY EQUIPMENT. (1) On Except as12 otherwise provided in this section, on and after July 1, 2020, there is ex-13 empted from the taxes imposed by this chapter the purchase or use of eligi-14 ble server equipment and new data center facilities, as defined in this sec-15 tion, for a period of twenty (20) years from the date a qualifying business16 entity's final approval certification is issued by the state tax commission17 pursuant to subsection (2)(l)(ii) of this section. The exemption provided18 in this section shall be available only to qualifying business entities and19 contractors installing eligible server equipment or building new data cen-20 ter facilities for qualifying business entities. The exemption provided in21 this section shall not be available for property that has been the subject of22 business incentives granted to a taxpayer or its affiliates, pursuant to the23 Idaho reimbursement incentive act, sections 67-4737 through 67-4744, Idaho24 Code. For purchases related to data centers that commenced construction on25 or after April 1, 2026, the exemption provided in this section shall apply26 only to eligible server equipment.27 (2) As used in this section:28 (a) "Business entity" means a separate legal entity or separately oper-29 ated segment of business that exists for the primary purpose of engaging30 in a commercial activity for profit and whose sole purpose is the oper-31 ation of a data center. For the purposes of this section, a separately32 operated segment of business is a segment of a business for which sep-33 arate records are maintained and that is operated by an employee or em-34 ployees whose primary employment responsibility is to operate the busi-35 ness segment.36 (b) "Cabling" means a fiber or copper cable used in data centers to con-37 nect information sources to a server or storage device.38 (c) "Capital investment" means real or tangible personal property that39 is purchased for use in Idaho and is used by a business entity for the40 purpose of operating a data center.41

2 (d) "Chiller" means a cooling system used in data centers to remove heat1 from an element and deposit it into another element.2 (e) "Commenced construction" or "commences construction" means physi-3 cal placement, assembly, or installation of materials or equipment that4 will make up part of a data center and that takes place at the site of the5 proposed data center.6 (e) (f) "Commencement of operations" means the date on which a certifi-7 cate of occupancy is issued for a data center.8 (f) (g) "Data center" means a facility comprised of one (1) or more9 buildings in Idaho that is used to house eligible server equipment for10 the transmission and storage of data where the facility has the follow-11 ing characteristics:12 (i) Uninterruptible power supplies, generator power, or both;13 (ii) Sophisticated fire suppression and prevention systems; and14 (iii) Enhanced physical security and restricted access.15 (g) (h) "Eligible server equipment" means new server equipment ac-16 quired by a qualifying business entity as described in this subsection17 that is maintained and operated in a data center located in Idaho for18 the sole purpose of data transmission and storage services, providing19 data and transaction processing services, information technology ser-20 vices, or computer collocation services. "Eligible server equipment"21 includes servers, rack servers, chillers, storage devices, generators,22 cabling, and enabling software integral to or installed on such equip-23 ment.24 (h) (i) "Generator" means an engine used in data centers to convert me-25 chanical energy into electricity.26 (i) (j) "New data center facilities" means buildings or structural27 components of buildings, including equipment, materials, and fixtures28 thereof, that are used in or intended for use primarily as a data center29 in Idaho.30 (j) (k) "New jobs" means new jobs created in Idaho that are nonseasonal,31 full-time jobs that collectively pay an average weekly wage that equals32 or exceeds the average weekly wage for the county where the data center33 is located, as determined by the most recent report of the United States34 bureau of labor statistics. A job that merely changes locations within35 the state of Idaho shall not be considered a new job under this section.36 New jobs must exceed the business entity's highest number of full-time37 employees in Idaho during the twenty-four (24) months immediately pre-38 ceding the commencement of operations of the data center.39 (k) (l)(i) "Qualifying business entity" means a business entity40 that certifies to the state tax commission that it will make:41 1. Make capital investments in one (1) or more data centers42 after July 1, 2020, in amounts of at least two hundred fifty43 million dollars ($250,000,000) in the aggregate within the44 first five (5) years after commencement of construction and45 that it will create;46 2. Create and maintain at least thirty (30) new jobs at the47 data center within two (2) calendar years after the com-48 mencement of operations.;49

3 3. For a qualifying business entity that commences con-1 struction on a data center on or after April 1, 2026, receive2 electricity service under an electricity rate schedule or3 energy service agreement that fully recovers from the qual-4 ifying business entity all costs incurred by the utility in5 providing electricity to the property for which the exemp-6 tion is claimed; and7 4. For a qualifying business entity that commences con-8 struction on a data center on or after April 1, 2026, prior9 to commencing construction of a data center, provide writ-10 ten notice to the local water provider serving such proposed11 data center's location and the department of water resources12 detailing the anticipated water consumption needs of the13 data center to ensure that the water consumption is compati-14 ble with the location in which the data center is being con-15 structed. Proprietary information submitted to the local16 water provider and the department of water resources shall17 be confidential. A qualifying business entity is encouraged18 to take action to conserve, reuse, and replace water. This19 includes but is not limited to:20 (A) Using water-efficient fixtures and practices;21 (B) Treating, infiltrating, or harvesting rainwater;22 (C) Recirculating or recycling water within the cool-23 ing system before discharging;24 (D) Partnering with state and local governmental en-25 tities and private individuals and entities to use data26 center discharge water for irrigation, water conserva-27 tion, aquifer recharge, or other beneficial purposes,28 if available;29 (E) Using reclaimed water where possible for data cen-30 ter operations; and31 (F) Supporting water restoration efforts in local wa-32 tersheds.33 (ii) Such business entities shall be entitled to a provisional34 exemption pursuant to this section during the period in which they35 make capital investments in data center property. If a business36 entity fails to meet the investment and job creation require-37 ments provided within the time periods required in this section,38 it shall pay sales or use taxes that would have been due if not39 for the granting of the provisional exemption. If a business en-40 tity meets the investment and job creation requirements provided41 within the time periods required in this section, its provisional42 exemption shall become final without further action and the state43 tax commission shall issue and deliver a written certification to44 the qualifying business entity confirming such final approval,45 and thereafter the exemption shall also apply to all additional46 purchases of eligible server equipment and purchases associated47 with constructing new data center facilities until the exemption48 expires after the time period provided in subsection (1) of this49 section.50

4 (l) (m) "Rack server" means a computer in a data center dedicated to use1 as a server and designed to be installed in a framework called a rack.2 (m) (n) "Server" means a computer or computer program used in data cen-3 ters that manages access to a centralized resource or service in a net-4 work.5 (n) (o) "Storage device" means a piece of computer equipment on which6 information can be stored and that is used in data centers.7 (3) The state tax commission shall prepare and file the following re-8 ports with the senate local government and taxation committee and the house9 revenue and taxation committee:10 (a) Starting in 2027, the state tax commission shall use anonymized and11 aggregated data to prepare and file a report no later than February 112 each year detailing the approximate amount of sales tax revenue forgone13 by the state in the previous calendar year due to the exemption provided14 in this section.15 (b) Starting in 2032, and every five (5) years thereafter, the state16 tax commission shall prepare and file along with its report pursuant to17 paragraph (a) of this subsection, an additional report detailing the18 following:19 (i) The approximate number of jobs that qualifying business en-20 tities have created in the state that are directly related to the21 data centers that are the subject of the exemption provided in this22 section;23 (ii) The total amount of capital investment that qualifying busi-24 ness entities have invested in the state that is directly related25 to the data centers that are the subject of the exemption provided26 in this section;27 (iii) A summary of the electricity usage of data centers that are28 the subject of the exemption provided in this section and how such29 electricity usage has impacted the availability and price of elec-30 tricity in the communities surrounding such data centers; and31 (iv) A summary of the water usage of data centers that are the sub-32 ject of the exemption provided in this section and how such water33 usage has impacted the availability and price of water in the com-34 munities surrounding such data centers.35 (3) (4) The state tax commission may promulgate rules to administer36 and enforce the provisions of this section, including the promulgation of37 rules relating to the provision of information necessary to certify that the38 taxpayer satisfies the criteria for a qualifying business entity. For the39 purpose of carrying out its duties to administer and enforce the provisions40 of this section, the state tax commission shall have the powers and duties41 provided by sections 63-217, 63-3038, 63-3039, 63-3042 through 63-3067,42 63-3068, 63-3071, and 63-3074 through 63-3078, Idaho Code.43

SECTION 2. That Section 63-4502, Idaho Code, be, and the same is hereby44 amended to read as follows:45 63-4502. TAX EXEMPTION FOR NEW CAPITAL INVESTMENTS. (1) For calendar46 years beginning on or after January 1, 2008, the net taxable value of all47 property of a taxpayer, whether acquired before, during or after the qual-48 ifying period, in excess of four hundred million dollars ($400,000,000)49

5 located within a single county in Idaho shall be exempt from property taxa-1 tion and any special assessment, but only if the taxpayer makes a qualifying2 new capital investment as defined in subsection (2) of this section related3 to a new plant and building facilities that commenced construction prior4 to April 1, 2026. Beginning in tax year 2026 and each tax year thereafter,5 for any taxpayer qualifying for this exemption in both the current tax year6 and the immediately preceding tax year, such nonexempt amount shall be ad-7 justed annually. The adjusted amount shall equal the amount applicable to8 the taxpayer for the previous tax year increased by the percentage change in9 the aggregate property tax budgets adopted by all taxing districts that levy10 on the property, from the previous year to the current year, excluding any11 budget increases attributable to new construction or annexation in the cur-12 rent year. The net taxable value in excess of such adjusted nonexempt amount13 shall be exempt from property taxation and any special assessment.14 (2) For purposes of this section, the following definitions shall ap-15 ply:16 (a) "Commenced construction" means physical placement, assembly, or17 installation of materials or equipment that will make up part of a new18 plant and building facilities that is the subject of a qualifying new19 capital investment and that takes place at the project site of such new20 plant and building facilities.21 (a) (b) "Qualifying new capital investment" means an investment of at22 least one billion dollars ($1,000,000,000) made during the qualifying23 period by the acquisition, construction, improvement or installation24 of real, operating or personal property related to new plant and build-25 ing facilities at a project site located within the county referred to26 in subsection (1) of this section.27 (b) (c) "New plant and building facilities" means:28 (i) Qualified investments as defined in section 63-3029B, Idaho29 Code; or30 (ii) Buildings or structural components of buildings, includ-31 ing equipment, materials and fixtures thereof, whether used at a32 project site or temporarily stored off-site in the county referred33 to in subsection (1) of this section and intended for use at a34 project site.35 (c) (d) "Qualifying period" means an eighty-four (84) month period of36 time beginning with the issuance of a building permit for a permanent37 building structure at a project site and ending no later than eighty-38 four (84) months a thereafter.39 (d) (e) "Project site" means an area or areas at which the new plant40 and building facilities described in subsection (2) (b) paragraph (c)41 of this subsection are built, installed or constructed.42 (3) The property included in the calculation for purposes of determin-43 ing a qualifying new capital investment value shall include all real or op-44 erating property owned, and all personal property owned, leased or rented.45 With respect to leased or rented personal property, only that portion of the46 property for which a taxpayer is contractually liable for payment of prop-47 erty taxes thereon shall be included in the calculation of the investment.48 (4) Notwithstanding the exemption provided in subsection (4) of sec-49 tion 63-3029B, Idaho Code, no other exemption from property tax or any spe-50

6 cial assessment provided by the statutes of this state shall be applicable1 to any property described in subsection (2) of this section with respect to a2 year in which the incentives set forth in subsection (1) of this section ap-3 ply to any of the same property.4 (5) Property subject to the provisions of this section shall not be5 included on any property roll or any new construction roll prepared by the6 county assessor in accordance with section 63-301 or 63-301A, Idaho Code,7 respectively.8 (6) The state tax commission shall adopt all rules that may be necessary9 to implement the provisions of this section.10

SECTION 3. That Section 50-2903, Idaho Code, be, and the same is hereby11 amended to read as follows:12 50-2903. DEFINITIONS. The following terms used in this chapter shall13 have the following meanings, unless the context otherwise requires:14 (1) "Act" or "this act" means this revenue allocation act.15 (2) "Agency" or "urban renewal agency" means a public body created pur-16 suant to section 50-2006, Idaho Code.17 (3) "Authorized municipality" or "municipality" means any county or18 incorporated city that has established an urban renewal agency or by or-19 dinance has identified and created a competitively disadvantaged border20 community.21 (4) Except as provided in section 50-2903A, Idaho Code, "base assess-22 ment roll" means the equalized assessment rolls, for all classes of taxable23 property, on January 1 of the year in which the local governing body of an24 authorized municipality passes an ordinance adopting or modifying an urban25 renewal plan containing a revenue allocation financing provision, except26 that the base assessment roll shall be adjusted as follows: the equalized27 assessment valuation of the taxable property in a revenue allocation area28 as shown upon the base assessment roll shall be reduced by the amount by29 which the equalized assessed valuation as shown on the base assessment roll30 exceeds the current equalized assessed valuation of any taxable property31 located in the revenue allocation area and by the equalized assessed val-32 uation of taxable property in such revenue allocation area that becomes33 exempt from taxation subsequent to the date of the base assessment roll.34 The equalized assessed valuation of the taxable property in a revenue allo-35 cation area as shown on the base assessment roll shall be increased by the36 equalized assessed valuation, as of the date of the base assessment roll, of37 taxable property in such revenue allocation area that becomes taxable after38 the date of the base assessment roll. Any increase in valuation due to prop-39 erty owned, leased, or used in the operation of a business entity that makes40 capital investments in one (1) or more data centers, as defined in section41 63-3622VV(2)(f), Idaho Code, after July 1, 2020, in amounts of at least two42 hundred fifty million dollars ($250,000,000) in the aggregate within the43 first five (5) years after commencement of construction, that creates and44 maintains at least thirty (30) new jobs at the data center within two (2)45 calendar years after the commencement of operations, and that is located in46 a revenue allocation area for which no bonds have been issued pursuant to47 section 50-2909, Idaho Code, as of March 16, 2023, shall be added to the base48 assessment roll in the current tax year. An urban renewal plan containing49

7 a revenue allocation financing provision adopted or modified prior to July1 1, 2016, is not subject to section 50-2903A, Idaho Code. For plans adopted2 or modified prior to July 1, 2016, and for subsequent modifications of those3 urban renewal plans, the value of the base assessment roll of property within4 the revenue allocation area shall be determined as if the modification had5 not occurred.6 (5) "Budget" means an annual estimate of revenues and expenses for the7 following fiscal year of the agency. An agency shall, by September 1 of each8 calendar year, adopt and publish, as described in section 50-1002, Idaho9 Code, a budget for the next fiscal year. An agency may amend its adopted10 budget using the same procedures as used for adoption of the budget. For11 the fiscal year that immediately predates the termination date for an urban12 renewal plan involving a revenue allocation area or will include the termi-13 nation date, the agency shall adopt and publish a budget specifically for the14 projected revenues and expenses of the plan and make a determination as to15 whether the revenue allocation area can be terminated before the January 116 of the termination year pursuant to the terms of section 50-2909(4), Idaho17 Code. In the event that the agency determines that current tax year revenues18 are sufficient to cover all estimated expenses for the current year and all19 future years, by September 1 the agency shall adopt a resolution advising and20 notifying the local governing body, the county auditor, and the state tax21 commission and recommending the adoption of an ordinance for termination of22 the revenue allocation area by December 31 of the current year and declaring23 a surplus to be distributed as described in section 50-2909, Idaho Code,24 should a surplus be determined to exist. The agency shall cause the ordi-25 nance to be filed with the office of the county recorder and the Idaho state26 tax commission as provided in section 63-215, Idaho Code. Upon notification27 of revenues sufficient to cover expenses as provided herein, the increment28 value of that revenue allocation area shall be included in the net taxable29 value of the appropriate taxing districts when calculating the subsequent30 property tax levies pursuant to section 63-803, Idaho Code. The increment31 value shall also be included in subsequent notification of taxable value for32 each taxing district pursuant to section 63-1312, Idaho Code, and subsequent33 certification of actual and adjusted market values for each school district34 pursuant to section 63-315, Idaho Code.35 (6) "Clerk" means the clerk of the municipality.36 (7) "Competitively disadvantaged border community area" means a parcel37 of land consisting of at least forty (40) acres that is situated within the38 jurisdiction of a county or an incorporated city and within twenty-five (25)39 miles of a state or international border, which the governing body of such40 county or incorporated city has determined by ordinance is disadvantaged in41 its ability to attract business, private investment, or commercial develop-42 ment as a result of a competitive advantage in the adjacent state or nation43 resulting from inequities or disparities in comparative sales taxes, income44 taxes, property taxes, population or unique geographic features.45 (8) "Deteriorated area" means:46 (a) Any area, including a slum area, in which there is a predominance47 of buildings or improvements, whether residential or nonresidential,48 which by reason of dilapidation, deterioration, age or obsolescence,49 inadequate provision for ventilation, light, air, sanitation, or open50

8 spaces, high density of population and overcrowding, or the existence1 of conditions that endanger life or property by fire and other causes,2 or any combination of such factors, is conducive to ill health, trans-3 mission of disease, infant mortality, juvenile delinquency, or crime,4 and is detrimental to the public health, safety, morals or welfare.5 (b) Any area which by reason of the presence of a substantial number of6 deteriorated or deteriorating structures, predominance of defective or7 inadequate street layout, faulty lot layout in relation to size, ade-8 quacy, accessibility or usefulness, insanitary or unsafe conditions,9 deterioration of site or other improvements, diversity of ownership,10 tax or special assessment delinquency exceeding the fair value of the11 land, defective or unusual conditions of title, or the existence of con-12 ditions that endanger life or property by fire and other causes, or any13 combination of such factors, results in economic underdevelopment of14 the area, substantially impairs or arrests the sound growth of a munici-15 pality, retards the provision of housing accommodations or constitutes16 an economic or social liability and is a menace to the public health,17 safety, morals or welfare in its present condition and use.18 (c) Any area which is predominately open and which because of obsolete19 platting, diversity of ownership, deterioration of structures or im-20 provements, or otherwise, results in economic underdevelopment of the21 area or substantially impairs or arrests the sound growth of a munici-22 pality. The provisions of section 50-2008(d), Idaho Code, shall apply23 to open areas.24 (d) Any area which the local governing body certifies is in need of25 redevelopment or rehabilitation as a result of a flood, storm, earth-26 quake, or other natural disaster or catastrophe respecting which the27 governor of the state has certified the need for disaster assistance28 under any federal law.29 (e) Any area which by reason of its proximity to the border of an ad-30 jacent state is competitively disadvantaged in its ability to attract31 private investment, business or commercial development which would32 promote the purposes of this chapter.33 (f) Deteriorated area does not mean not developed beyond agricultural,34 or any agricultural operation as defined in section 22-4502(1), Idaho35 Code, or any forest land as defined in section 63-1701(4), Idaho Code,36 unless the owner of the agricultural operation or the forest landowner37 of the forest land gives written consent to be included in the deterio-38 rated area, except for an agricultural operation or forest land that has39 not been used for three (3) consecutive years.40 (9) "Facilities" means land, rights in land, buildings, structures,41 machinery, landscaping, extension of utility services, approaches, road-42 ways and parking, handling and storage areas, and similar auxiliary and re-43 lated facilities.44 (10) "Increment value" means the total value calculated by summing the45 differences between the current equalized value of each taxable property in46 the revenue allocation area and that property's current base value on the47 base assessment roll, provided such difference is a positive value.48 (11) "Local governing body" means the city council or board of county49 commissioners of a municipality.50

9 (12) "Manufacturing project" means a manufacturing or industrial1 project and ancillary uses that manufactures, processes, or fabricates tan-2 gible personal property as defined in section 63-3616, Idaho Code.3 (13) "Plan" or "urban renewal plan" means a plan, as it exists or may4 from time to time be amended, prepared and approved pursuant to sections5 50-2008 and 50-2905, Idaho Code, and any method or methods of financing such6 plan, which methods may include revenue allocation financing provisions.7 (14) "Project" or "urban renewal project" or "competitively disadvan-8 taged border areas" may include undertakings and activities of a municipal-9 ity in an urban renewal area for the elimination of deteriorated or deterio-10 rating areas and for the prevention of the development or spread of slums and11 blight and may involve slum clearance and redevelopment in an urban renewal12 area, or rehabilitation or conservation in an urban renewal area, or any com-13 bination or part thereof in accordance with an urban renewal plan. Such un-14 dertakings and activities may include:15 (a) Acquisition of a deteriorated area or a deteriorating area or por-16 tion thereof;17 (b) Demolition and removal of buildings and improvement;18 (c) Installation, construction, or reconstruction of streets, utili-19 ties, parks, playgrounds, open space, off-street parking facilities,20 public facilities, public recreation and entertainment facilities or21 buildings and other improvements necessary for carrying out, in the ur-22 ban renewal area or competitively disadvantaged border community area,23 the urban renewal objectives of this act in accordance with the urban24 renewal plan or the competitively disadvantaged border community area25 ordinance.26 (d) Disposition of any property acquired in the urban renewal area or27 the competitively disadvantaged border community area, including sale,28 initial leasing, or retention by the agency itself, or the municipality29 creating the competitively disadvantaged border community area at its30 fair value for uses in accordance with the urban renewal plan except for31 disposition of property to another public body;32 (e) Carrying out plans for a program of voluntary or compulsory repair33 and rehabilitation of buildings or other improvements in accordance34 with the urban renewal plan;35 (f) Acquisition of real property in the urban renewal area or the com-36 petitively disadvantaged border community area that, under the urban37 renewal plan, is to be repaired or rehabilitated for dwelling use or re-38 lated facilities, repair or rehabilitation of the structures for guid-39 ance purposes, and resale of the property;40 (g) Acquisition of any other real property in the urban renewal area41 or competitively disadvantaged border community area where necessary42 to eliminate unhealthful, insanitary or unsafe conditions, lessen den-43 sity, eliminate obsolete or other uses detrimental to the public wel-44 fare, or otherwise to remove or to prevent the spread of blight or dete-45 rioration, or to provide land for needed public facilities or where nec-46 essary to accomplish the purposes for which a competitively disadvan-47 taged border community area was created by ordinance;48 (h) Lending or investing federal funds; and49

10 (i) Construction of foundations, platforms and other like structural1 forms.2 (15) "Project costs" includes, but is not limited to:3 (a) Capital costs, including the actual costs of the construction of4 public works or improvements, facilities, buildings, structures, and5 permanent fixtures; the demolition, alteration, remodeling, repair or6 reconstruction of existing buildings, structures, and permanent fix-7 tures; the acquisition of equipment; and the clearing and grading of8 land;9 (b) Financing costs, including interest during construction and capi-10 talized debt service or repair and replacement or other appropriate re-11 serves;12 (c) Real property assembly costs, meaning any deficit incurred from the13 sale or lease by a municipality of real or personal property within a14 revenue allocation district;15 (d) Professional service costs, including those costs incurred for ar-16 chitectural, planning, engineering, and legal advice and services;17 (e) Direct administrative costs, including reasonable charges for the18 time spent by city or county employees in connection with the implemen-19 tation of a project plan;20 (f) Relocation costs; and21 (g) Other costs incidental to any of the foregoing costs.22 (16) "Revenue allocation area" means that portion of an urban renewal23 area or competitively disadvantaged border community area where the equal-24 ized assessed valuation, as shown by the taxable property assessment rolls,25 of which the local governing body has determined, on and as a part of an urban26 renewal plan, is likely to increase as a result of the initiation of an urban27 renewal project or competitively disadvantaged border community area. The28 base assessment roll or rolls of revenue allocation area or areas shall not29 exceed at any time ten percent (10%) of the current assessed valuation of all30 taxable property within the municipality.31 (17) "State" means the state of Idaho.32 (18) "Tax" or "taxes" means all property tax levies upon taxable prop-33 erty.34 (19) "Taxable property" means taxable real property, personal prop-35 erty, operating property, or any other tangible or intangible property36 included on the equalized assessment rolls.37 (20) "Taxing district" means a taxing district as defined in section38 63-201, Idaho Code, as that section now exists or may hereafter be amended.39 (21) "Termination date" means a specific date no later than twenty (20)40 years from the effective date of an urban renewal plan or as described in sec-41 tion 50-2904, Idaho Code, on which date the plan shall terminate. Every ur-42 ban renewal plan shall have a termination date that can be modified or ex-43 tended subject to the twenty (20) year maximum limitation, except as pro-44 vided in section 50-2904(5), Idaho Code. Provided however, the duration of45 a revenue allocation financing provision may be extended as provided in sec-46 tion 50-2904, Idaho Code.47

SECTION 4. An emergency existing therefor, which emergency is hereby48 declared to exist, this act shall be in full force and effect on and after its49 passage and approval, and retroactively to January 1, 2026.50