TAXATION – Amends and adds to existing law to provide certain property tax exemptions for certain utilities and to provide for a tax on rate-regulated electric companies and gas companies.

This bill changes Idaho's tax rules for electric and gas utility companies. It removes some existing property tax exemptions for these companies, adds a new tax on rate-regulated electric and gas utility companies, and creates a specific exemption for electricity used in irrigation. The tax revenue will be distributed to local governments based on 2025 property tax data from those utilities. These changes apply directly to utility companies and affect how local governments receive tax revenue from them.