The bill amends various sections of the Idaho Code concerning urban renewal agencies, focusing on the dissolution process, definitions, and technical corrections. It introduces new language in Section 50-2006, allowing local governing bodies to dissolve urban renewal agencies through an ordinance, with property titles reverting to the municipality upon dissolution. The bill also mandates that local governing bodies notify affected taxing districts and the state tax commission within ten business days of enacting the dissolution ordinance. Additionally, it revises definitions in Section 50-2903, including the term "budget," and establishes a new section (50-2914) for the termination of revenue allocation areas, ensuring compliance with updated fiscal and reporting requirements.

Furthermore, the bill outlines new requirements for local governing bodies when adopting urban renewal plans, including public hearings and consent from fire protection and ambulance service districts for financing provisions. It modifies the process for municipalities withdrawing from revenue allocation financing, requiring timely notification to the county clerk and state tax commission. The bill also clarifies property tax assessment processes, allowing certain increments in property value for districts withdrawing from urban renewal areas and updating budget request limitations. Overall, the amendments aim to enhance urban renewal efforts while providing local districts with a greater voice in financing decisions that impact them.

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