[{"_1":2,"_88":-5,"_89":-5},"loaderData",{"_3":4,"_26":27},"root",{"_5":6,"_17":10,"_18":19,"_20":21,"_22":10,"_23":-5,"_24":-5,"_25":10},"user",{"_7":8,"_9":10,"_11":10,"_12":-5,"_13":-5,"_14":15,"_16":-5},"roles",[],"isAuthenticated",false,"isPremium","planName","subscriptionStatus","featureFlags",{},"insightsBudget","isDevelopmentHost","userPreferences",{},"recaptchaSiteKey","6LcvOJcUAAAAAHsB-gPGfGktcRlKpH7OTIU_dMTD","isImpersonating","impersonation","affiliateStatus","isFreedomPortal","routes/v2/article/layout",{"_28":29,"_30":31},"notFound",true,"relatedArticles",[32,76],{"_33":34,"_35":36,"_37":38,"_39":40,"_41":42,"_43":44,"_45":46,"_47":48,"_49":50,"_51":52,"_53":54,"_55":56,"_57":58,"_59":60,"_61":62,"_63":64,"_65":66,"_67":68,"_69":70,"_71":72,"_73":74,"_75":74},"mediaId",6327001,"mediaKeyId","2323474-a2a511294f79d44a4bafc66a3a4c9371","parentId",2323474,"title","Revenue and Taxation committee introduces RS 32313 to allow early dissolution of urban renewal agencies","audioSeconds",331,"startMs",105000,"endMs",436000,"viewUrl","/Search/View?dp=1&key=2323474-a2a511294f79d44a4bafc66a3a4c9371&start=105&end=436","thumbnailUrl","https://assets.pipeline.soar.com/2323474-a2a511294f79d44a4bafc66a3a4c9371/thumbnail_105000.jpg","articleUrl","/articles/6327001/Idaho/Revenue-and-Taxation-committee-introduces-RS-32313-to-allow-early-dissolution-of-urban-renewal-agencies","mediaUrl","https://secure.pipeline.soar.com/6327001-054e032fc720a2d103e1f07cee1b7934/orig.mp4?Expires=1771151388&Signature=Y9QDDlAz344LJR1dVE6oOMXmb7cAk3XOjHwb0pSCq95u~ZArt7VifT2ToWiGLnAqtPtbuIUe0GbdNYPjmEWMhOc6PiWZmh93Tx3h0GVomZn8C5NtsrOXlC0iu1z-w-INVVfXSVr2jjsEgTtlB2p~YcCAnfFeyOTt0-dKxyvgy1sD2GaKATenYRrkIjc2ubXH5OmKYuH~yBIyDEJOXREdg7aZZm55JAULSxb6rd9L5uynw7EpP~J8B05JuRwEaNn60Zqggm0tIfJqLErxvBXhbuM0xJpMt0XfKyBL7b71NNVtqI19Ax7w-LhCd4ONI2CwCmJsx7PXuDsSi9Fi34OJ8Q__&Key-Pair-Id=KUT5TJCACFTXG","author","Idaho House of Representatives","date","2025-02-17T00:00:00Z","article","The House Revenue and Taxation Committee on Feb. 17, 2025, voted to introduce RS 32313, a resolution sponsored by Representative John Weber (District 34) that would give local governing bodies the ability to dissolve an urban renewal agency early when there is no outstanding debt and would provide a mechanism for fire protection and ambulance districts to exclude property tax increments from a revenue allocation area, so long as no current debt exists.

The measure matters because it would clarify how and when local governments can end urban renewal entities and how tax-increment financing (TIF) interacts with emergency service districts’ revenue in finished projects. Weber told the committee the RS seeks to fill a statutory gap he described as silence in the current code about dissolving an entire agency rather than individual project areas.

\"This RS is giving local governing bodies the ability to dissolve a urban renewal agency early if there's no outstanding debt,\" Representative John Weber said. He also explained the provision that would allow fire and ambulance districts to not have property tax increments included in a revenue allocation area when no debt remains.

Representative Cornelis asked why an agency would want to dissolve if it has no balance. Weber responded that if an agency shows no activity for a period of time, officials may want the option to dissolve it. Representative Birch asked about the existing process for dissolution; Weber said state code is largely silent on dissolving an agency as a whole, which the RS would clarify.

Birch said she would support introduction but asked the sponsor to consult the Association of Counties and Cities for perspectives on pros and cons at the local level. Representative Raybould moved to introduce RS 32313; the committee approved the motion by voice vote and the RS was recorded as introduced.

The committee did not take a final vote on policy language; the action at this meeting was to introduce the RS and request further consultation. The next agenda item was House Bill 165.","mediaType","Video","parentTitle","Revenue & Taxation February 17, 2025","oneSentenceSummary","The House Revenue and Taxation Committee on Feb. 17, 2025, voted to introduce RS 32313, sponsored by Representative John Weber (District 34), to allow local governments to dissolve an urban renewal agency early if there is no outstanding debt and to permit certain fire and ambulance districts to exclude tax-increment revenue from a revenue allocation area when no debt exists.","taxTitle","Revenue and Taxation, HOUSE OF REPRESENTATIVES, Committees, Legislative, Idaho","taxId",28588,"location","Idaho","headline","","shortSummary",{"_33":77,"_35":36,"_37":38,"_39":78,"_41":79,"_43":80,"_45":81,"_47":82,"_49":83,"_51":84,"_53":85,"_55":56,"_57":58,"_59":86,"_61":62,"_63":64,"_65":87,"_67":68,"_69":70,"_71":72,"_73":74,"_75":74},6326996,"Committee advances House Bill 165 to clarify unclaimed property and securities rules",460,448000,908000,"/Search/View?dp=1&key=2323474-a2a511294f79d44a4bafc66a3a4c9371&start=448&end=908","https://assets.pipeline.soar.com/2323474-a2a511294f79d44a4bafc66a3a4c9371/thumbnail_448000.jpg","/articles/6326996/Idaho/Committee-advances-House-Bill-165-to-clarify-unclaimed-property-and-securities-rules","https://secure.pipeline.soar.com/6326996-dfc2c6005a98292c53c5499de448c557/orig.mp4?Expires=1771151388&Signature=Hrm8lab6UumKOsVXaX2QnQA~dwVkoLW9-G8N~-KBjnlpK~Z9utTlE~hbxL27zNPE4K9paVjZXNXy9Ab37PV0k4wLk6Z267aPhmrl2jUMWPN7vlVsxlUTtwyDDbSrfichnIl6jPSUW5dMGFQvPXN8tbP3iKBa6TfeAgnl1TtpwJ0jr-ekbB721DoKHhQ-l9AcJOo2Mzz-m27nvSDgCshr01KgTms37LB7o8zdMSyuFfrbRLvlJ~H8dQTIt8cZ5O5XkW23b518VDwF3dNMSVhSgzRCKhEpJlff7OJCJTJqbGNySaJdnpJMWhT~QC2s6jQmu~6Y~4rl90eX4Hbjl~YnMQ__&Key-Pair-Id=KUT5TJCACFTXG","The House Revenue and Taxation Committee on Feb. 17, 2025, voted to send House Bill 165 to the floor with a due-pass recommendation after sponsor Representative Joe Alfieri (District 4) and Treasurer Ellsworth described technical cleanups to the state's unclaimed property and securities code.

Alfieri told the committee the bill follows recent, broader revisions to the unclaimed property provisions and makes three targeted fixes: it clarifies when a holder must notify a property owner, aligns state securities rules with national practice, and clarifies transitional language related to remittance timing. Alfieri said the holder must notify the apparent owner no later than two years after the last activity in the account.

\"You may remember that we recently revised the unclaimed property provisions ... this is, in addition to that, we're cleaning up what happens in unclaimed property code and regarding renewal and a sheet notice on property,\" Representative Joe Alfieri said. On the specific timing he added that holders must notify the apparent owner “no later than 2 years after the last interest in the property was put forth.”

Treasurer Ellsworth, who the sponsor identified as available for technical questions, told the committee that the term \"property\" in the code is a broad term and that securities are treated in a separate section because the securities industry has different expiration and reporting timelines tied to national regulation. He described three principal changes in the bill: clarifying the renewal (notice) process, aligning the securities section with national practice, and tightening a transitional phrase previously interpreted by some as allowing very long remittance delays.

\"The term property in the unclaimed property code is a very generic term,\" Treasurer Ellsworth said. \"There are three separate changes in this. One is ... the renewal process on a bi yearly basis. ... The second the securities code that we aligned it with what is happening nationally. And the third thing we did is we took transitional periods ... we found nationally that many interpreted it promptly as 30 years.\" (Ellsworth's remarks appear close to verbatim from committee testimony.)

Representative Birch asked whether replacing the words \"security\" with \"property\" or \"account\" in specific lines could create confusion. Ellsworth said industry stakeholders worked with staff and that terms of art in the securities industry inform the drafting and, in his view, the changes do not create unintended confusion.

Representative Schurz moved to send the bill to the floor with a due-pass recommendation; the committee approved the motion by voice vote. Representative Alfieri was identified as the floor sponsor for House Bill 165.","House Bill 165 was sent to the floor with a due-pass recommendation after Representative Joe Alfieri and Treasurer Ellsworth described technical clarifications to the state's unclaimed property and securities codes, including notification timing and alignment with national securities practices.","actionData","errors"]

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Revenue and Taxation committee introduces RS 32313 to allow early dissolution of urban renewal agencies

Committee advances House Bill 165 to clarify unclaimed property and securities rules