The bill amends several sections of the Idaho Code concerning urban renewal agencies, focusing on their dissolution process, definitions, and financial provisions. It introduces new language in Section 50-2006, allowing local governing bodies to dissolve urban renewal agencies through an ordinance, with stipulations that all property owned by the agency will revert to the municipality upon dissolution. Additionally, the bill revises definitions in Section 50-2903, particularly the term "budget," and removes outdated provisions regarding budget requests for urban renewal plans. The amendments aim to streamline operations and governance of urban renewal agencies, ensuring alignment with current practices.

Furthermore, the bill establishes new requirements for local governing bodies when adopting urban renewal plans, including public hearings and ordinances, particularly for fire protection and ambulance service districts regarding their consent to financing provisions. It also introduces new provisions related to property tax assessments, allowing certain increments in property value for districts withdrawing from urban renewal revenue allocation areas. The bill clarifies the certification process for property tax levies and includes an emergency clause for immediate effect upon passage. Overall, the bill seeks to enhance transparency, accountability, and flexibility in urban renewal financing and property tax management.

Statutes affected:
Bill Text: 50-2006, 50-2005, 50-2903, 50-2906, 50-2907, 50-2908, 50-2909, 63-301A, 63-802, 63-803, 63-1312