It is the intent of the Board to provide incentives for investments in existing business under the same criteria and limitations as set forth in section 01-23-15: of this article, with the following modifications:
(1) Investment includes only qualified investments as defined by Idaho Code section 63-602NN, not including replacement equipment; and
(2) If existing business does not meet job thresholds but does not reduce employment from the previous three (3) years average, the existing business may be eligible for a reduced exemption as identified in the table below:
(3) If expansion does meet job thresholds as noted in section 1-23-15, the below criteria applies:
Level I investment: | ||||
Investment | $500,000.00 to $3,000,000.00 | |||
Exemption | Maximum 25 percent for up to 3 years | |||
Level II investment: | ||||
Investment | $3,000,000.01 or more | |||
Maximum exemption: | Multiplier <2.0 | Multiplier > 2.0 | ||
Real & personal property year 1 | 50% | 70% | ||
Real & personal property year 2 | 40% | 60% | ||
Real & personal property year 3 | 30% | 50% | ||
Real & personal property year 4 | 20% | 40% | ||
Real & personal property year 5 | 10% | 30% | ||
Exemptions are not available under levels I and/or II investments for housing and residential buildings or facilities.
(Ord. 18-031, 11-15-2018; amd. Ord. 22-020, 9-13-2022)