House revenue committee holds HB 412, introduces RS 32-715 to clarify tax rules and timing for $100 million property tax relief

Summary

Lawmakers held House Bill 412 for further consideration and introduced RS 32-715, a companion redraft that clarifies statute-of-limitations rules for audits, interest accrual, revenue accounting for a $330 million adjustment and timing for a $100 million property tax relief transfer to occur in calendar year 2025.

The House Revenue and Taxation Committee held House Bill 412 on a motion by Representative Shepherd and introduced RS 32-715 with a recommendation that it be placed on the second-reading calendar.

Representative Jeff Ehlers, R‑Meridian, told the committee HB 412 contains technical corrections and clarifications tied to several tax bills this session, including House Bill 40 (income tax relief), House Bill 304 (property tax relief) and House Bill 354. He asked the committee to consider HB 412 together with RS 32-715 and said the RS redrafts portions related to property tax relief.

Ehlers said the bill and redraft include multiple, limited changes: clarifying eligibility language tied to military benefits; defining when particular income tax rates commence for given tax years; aligning the statute of limitations for sales‑tax and…

House revenue committee holds HB 412, introduces RS 32-715 to clarify tax rules and timing for $100 million property tax relief

Summary

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