Idaho Code > Title 50 > Chapter 29 – Local Economic Development Act
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Terms Used In Idaho Code > Title 50 > Chapter 29 - Local Economic Development Act
- Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
- Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
- Arrest: Taking physical custody of a person by lawful authority.
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
- base assessment roll: means the equalized assessment rolls, for all classes of taxable property, on January 1 of the year in which the local governing body of an authorized municipality passes an ordinance adopting or modifying an urban renewal plan containing a revenue allocation financing provision, except that the base assessment roll shall be adjusted as follows: the equalized assessment valuation of the taxable property in a revenue allocation area as shown upon the base assessment roll shall be reduced by the amount by which the equalized assessed valuation as shown on the base assessment roll exceeds the current equalized assessed valuation of any taxable property located in the revenue allocation area and by the equalized assessed valuation of taxable property in such revenue allocation area that becomes exempt from taxation subsequent to the date of the base assessment roll. See Idaho Code 50-2903
- Budget: means an annual estimate of revenues and expenses for the following fiscal year of the agency. See Idaho Code 50-2903
- Clerk: means the clerk of the municipality. See Idaho Code 50-2903
- Competitively disadvantaged border community area: means a parcel of land consisting of at least forty (40) acres that is situated within the jurisdiction of a county or an incorporated city and within twenty-five (25) miles of a state or international border, which the governing body of such county or incorporated city has determined by ordinance is disadvantaged in its ability to attract business, private investment, or commercial development as a result of a competitive advantage in the adjacent state or nation resulting from inequities or disparities in comparative sales taxes, income taxes, property taxes, population or unique geographic features. See Idaho Code 50-2903
- Contract: A legal written agreement that becomes binding when signed.
- Deteriorated area: means :
Idaho Code 50-2903Facilities: means land, rights in land, buildings, structures, machinery, landscaping, extension of utility services, approaches, roadways and parking, handling and storage areas, and similar auxiliary and related facilities. See Idaho Code 50-2903 Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006. Increment value: means the total value calculated by summing the differences between the current equalized value of each taxable property in the revenue allocation area and that property’s current base value on the base assessment roll, provided such difference is a positive value. See Idaho Code 50-2903 Intangible property: Property that has no intrinsic value, but is merely the evidence of value such as stock certificates, bonds, and promissory notes. Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases. Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC Local governing body: means the city council or board of county commissioners of a municipality. See Idaho Code 50-2903 municipality: means any county or incorporated city that has established an urban renewal agency or by ordinance has identified and created a competitively disadvantaged border community. See Idaho Code 50-2903 Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period. person: includes a corporation as well as a natural person;
Idaho Code 73-114Personal property: includes money, goods, chattels, things in action, evidences of debt and general intangibles as defined in the uniform commercial code — secured transactions. See Idaho Code 73-114 Personal property: All property that is not real property. Project costs: includes , but is not limited to:
Idaho Code 50-2903Property: includes both real and personal property. See Idaho Code 73-114 Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land. Revenue allocation area: means that portion of an urban renewal area or competitively disadvantaged border community area where the equalized assessed valuation (as shown by the taxable property assessment rolls) of which the local governing body has determined, on and as a part of an urban renewal plan, is likely to increase as a result of the initiation of an urban renewal project or competitively disadvantaged border community area. See Idaho Code 50-2903 State: means the state of Idaho. See Idaho Code 50-2903 Taxable property: means taxable real property, personal property, operating property, or any other tangible or intangible property included on the equalized assessment rolls. See Idaho Code 50-2903 taxes: means all property tax levies upon taxable property. See Idaho Code 50-2903 Taxing district: means a taxing district as defined in section 63-201, Idaho Code, as that section now exists or may hereafter be amended. See Idaho Code 50-2903 Termination date: means a specific date no later than twenty (20) years from the effective date of an urban renewal plan or as described in section 50-2904, Idaho Code, on which date the plan shall terminate. See Idaho Code 50-2903 this act: means this revenue allocation act. See Idaho Code 50-2903 urban renewal agency: means a public body created pursuant to section 50-2006, Idaho Code. See Idaho Code 50-2903 urban renewal plan: means a plan, as it exists or may from time to time be amended, prepared and approved pursuant to sections 50-2008 and 50-2905, Idaho Code, and any method or methods of financing such plan, which methods may include revenue allocation financing provisions. See Idaho Code 50-2903 Venue: The geographical location in which a case is tried.