This bill amends the Idaho Code to enhance the assessment and taxation framework for rate-regulated electric utility companies and gas companies. A significant change is the establishment of a new "rate-regulated tax fund" in the state treasury, which will collect all taxes from these utilities and ensure continuous appropriation for disbursement to county treasurers. The state tax commission is tasked with assessing taxable operating property annually and will now bill utilities based on specified rates, with taxes due by June 20 each year. The timeline for tax estimation and notification has been revised, with county treasurers and auditors receiving estimated tax notifications by the first Monday of July.

Additionally, the bill introduces new tax rates for various energy producers, including wind, solar, and geothermal, and mandates biannual sales reporting starting in 2026. It clarifies that the taxes levied will replace other property taxes for these energy producers and outlines procedures for reapportioning taxes in case of dissolutions or expirations of taxing districts. The bill also imposes penalties and interest on unpaid taxes, establishing them as a lien on the utilities' property until settled. New taxing districts formed after January 1, 2025, will not qualify for tax distributions, while consolidating districts will maintain their rights. The bill is effective immediately upon passage, with retroactive provisions to January 1, 2026.

Statutes affected:
Bill Text: 63-405, 63-3502B, 63-3503C