Friday, March 30, 2012

Most URA-related bills wither in Boise

1 bill goes to governorís desk


By REBECCA MEANY
Express Staff Writer

Only one of eight bills in the Legislature with the potential to impact urban renewal agencies will likely turn into law this year.

H0519 would provide a property tax exemption for certain site improvements such as roads or utilities until building begins or until the title is conveyed from the developer.

Gary Marks, Ketchum Urban Renewal Agency executive director, has been monitoring multiple bills this session. Some bills could have had the potential to eliminate URAs or change the makeup of their boards, while others would create a lesser impact.

H0519 could reduce the value of the new construction roll reported by counties in 2012, according to a fiscal note in the bill's statement of purpose. The reduction would be temporary because the land would eventually be fully taxed. URAs are funded through tax increment financing, meaning they get the amount of property taxes that result from increases in the value of properties within the urban renewal district.

"The impact on the URA would be indirect in that it would reduce or delay the addition of new value to the tax increment," Marks said. "Its specific financial impact is unknown because it depends on future development activity that is unknown at this time."

The bill passed the House by a wide margin last month and sailed through the Senate. It is now on the governor's desk.

In addition to H0519, URA-related legislation included:

- H0504, which would have required newly formed URAs to have an elected board of directors rather than appointees.

- H0506 would have prohibited URAs from condemning property.

- H0507 would have required that every URA plan be limited to specific projects outlined in a plan.

- H0547 would have tightened restrictions on issuing bonds.

- H0560 would have repealed the authority to create URAs.

- H0562 would have prevented URAs from taking the tax increment from community college levies.

- H0580 would require a two-thirds "yes" vote countywide for issuing local URA bonds.

Rebecca Meany: rmeany@mtexpress.com




About Comments

Comments with content that seeks to incite or inflame may be removed.

Comments that are in ALL CAPS may be removed.

Comments that are off-topic or that include profanity or personal attacks, libelous or other inappropriate material may be removed from the site. Entries that are unsigned or contain signatures by someone other than the actual author may be removed. We will take steps to block users who violate any of our posting standards, terms of use or any other policies governing this site. Use of this system denotes full acceptance of these conditions. Please review the full rules governing commentaries and discussions. You are fully responsible for the content that you post.

The comments below are from the readers of mtexpress.com and in no way represent the views of Express Publishing, Inc.

You may flag individual comments. You may also report an inappropriate or offensive comment by clicking here.

Flagging Comments: Flagging a comment tells a site administrator that a comment is inappropriate. You can find the flag option by pointing the mouse over the comment and clicking the 'Flag' link.

Flagging a comment is only counted once per person, and you won't need to do it multiple times.

Proper Flagging Guidelines: Every site has a different commenting policy - be sure to review the policy for this site before flagging comments. In general these types of comments should be flagged:

  • Spam
  • Ones violating this site's commenting policy
  • Clearly unrelated
  • Personal attacks on others
Comments should not be flagged for:
  • Disagreeing with the content
  • Being in a dispute with the commenter

Popular Comment Threads



 Local Weather 
Search archives:


Copyright © 2020 Express Publishing Inc.   Terms of Use   Privacy Policy
All Rights reserved. Reproduction in whole or in part in any form or medium without express written permission of Express Publishing Inc. is prohibited. 

The Idaho Mountain Express is distributed free to residents and guests throughout the Sun Valley, Idaho resort area community. Subscribers to the Idaho Mountain Express will read these stories and others in this week's issue.