Senate panel passes personal property tax repeal
BOISE, Idaho (AP) -- A partial personal property tax repeal is now blazing through the Senate.
After the House passed the bill in two days, the Senate looks to be following suit after its Local Government and Taxation Committee supported it unanimously Thursday.
It exempts businesses' first $100,000 worth of computers, tables, chairs and other equipment from taxation.
That would eliminate the business-equipment tax bill for about 90 percent of 53,000 Idaho businesses.
The state would use $20 million in sales tax revenue -- money already set aside by Gov. C.L. "Butch" Otter -- to replace tax revenue counties, cities and school districts stand to lose.
Nobody publicly opposed the bill, though the Boise Metro Chamber of Commerce said it only supported it as a "first step" to completely repealing the $141 million tax.