This bill amends Section 63-602GG of the Idaho Code to revise the provisions regarding property tax exemptions for low-income housing owned by nonprofit organizations. The amendments allow the board of county commissioners to have discretion in exempting all or a portion of such properties from taxation, rather than mandating that they be exempt. Additionally, the bill clarifies the qualifications for nonprofit organizations seeking the exemption, including requirements for ownership and operation of the property, tenant eviction protections, and compliance with income and rent restrictions. It also introduces a new requirement for property owners to submit an annual compliance statement to the county assessor.

Furthermore, the bill establishes a process for property owners to request a preliminary determination from the county regarding the potential for tax exemption before obtaining local land use or zoning approvals. It specifies that the exemption will not apply to properties that have already closed financing or are in service as of July 1, 2026, unless they meet certain rehabilitation criteria. The bill also includes provisions for the removal of the exemption if the property no longer meets the established criteria. An emergency clause is included, making the act effective on July 1, 2026.

Statutes affected:
Bill Text: 63-602GG