New Capital Investments Exemption

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Notification of New Capital Investment

Pursuant to Idaho Code 63-4502 prior to receiving the benefit of the tax exemption, the taxpayer shall notify the county in which the project site is located that the taxpayer expects to meet the criteria of the New Capital Investments Tax Exemption. Notification shall be accomplished by submitting a written declaration or notification with the county assessor and the board of county commissioners containing the following information:
    *    The name and address of the taxpayer
    *    A description of the new capital investment project
    *    The assessor's parcel number(s) identifying the location of the project site
    *    The date that the qualifying period began
    *    A statement that the taxpayer will make a qualified new capital investment of at least one billion dollars ($1,000,000,000) within the qualifying period, which shall be specified.

The notification may be submitted to the county assessor and the board of county commissioners at any time after the qualifying period begins. However, if the notification is submitted after May 15th in a given year a taxpayer may receive the benefit of the exemption only for tax years following the year in which the notification is filed.

Property of the Taxpayer:

Property of a taxpayer includes all real and personal property that is owned by or leased to the taxpayer under an agreement that makes the taxpayer responsible for the payment of any property taxes on the property.

New Construction:

Property taxable under Idaho Code 63-4502 and that qualifies for listing on the new construction roll such as buildings or structural components of buildings, including equipment, materials and fixtures as described in Idaho code 63-301(A)3 should be listed on the new construction roll.

Failure to Make the Qualifying New Capital Investment:

If the taxpayer fails to make the qualifying new capital investment during the qualifying period, the property shall lose the exemption granted beginning with the tax year immediately following the conclusion of the qualifying period.

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