The Idaho Association of Commerce and Industry told a House panel its $120 million proposal to eliminate the state’s business personal property tax by 2020 will protect local governments’ funding while stimulating the economy.
The measure – which has Gov. Butch Otter’s backing – was introduced Friday morning in the House Revenue and Taxation Committee.
The introduction comes a day after the Idaho Association of Counties unveiled a competing bill that would cost the state $20 million but still eliminate the tax for most small businesses.
Both measures are now due a full hearing Tuesday, though the committee won’t vote the same day. (AP)