HB 604, the bill printed yesterday by the House Revenue and Taxation Committee and scheduled for a public hearing this morning was abruptly pulled from the agenda late last evening and there are no signs that a new bill will be introduced tomorrow.
The legislature has been grappling with how to eliminate Idaho’s personal property tax law for years. Last year, lawmakers began the process by exempting the first $100,000 in personal property tax for business equipment, which completely eliminated the tax for approximately 90% of all Idaho businesses. Though no bill had been introduced this session, there have been signs that both the House and Senate would like to expand on last year’s legislation. Whether the lawmakers will be able to overcome several sticking points and craft legislation that will pass both bodies is not yet clear.