It’s time to repeal the Idaho Corporate Headquarters Incentive Act of 2005, the full House and a Senate committee voted. House Bill 661 would repeal a law that the Legislature passed and the former Albertsons Inc. – the Boise company that was sold in 2006 - promoted. Under the law, corporations planning to build headquarters operations with many highly-paid employees can receive income tax credits for capital investments and real property improvements, and other tax breaks and incentives.
The Senate Local Government and Taxation Committee on March 24 endorsed the repeal bill, presented by House Revenue & Taxation Committee Chairman Dennis Lake, R-Blackfoot.
The Corporate Headquarters Incentive Act was created for a single purpose and never was used, he said. Idaho Department of Commerce officials indicate that no businesses are waiting in the wings to come to Idaho and use the law, which last year drew scrutiny from a legislative interim committee on tax exemptions, he added.
The House on March 21 passed the repeal legislation by a 64-3-3 vote.
Gov. C.L. “Butch” Otter recently signed into law a modification of the Idaho Small Employer Incentive Act of 2005, simplifying wage guidelines so that more businesses could qualify. The bill went through the Legislature as House Bill 431.
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