TAXATION – Amends existing law to revise provisions regarding the allocation of certain tax revenue.

H 734 revises how Idaho allocates tax revenue from renewable energy producers (wind, solar, and geothermal). It requires these producers to file annual earnings statements with the State Tax Commission, which then calculates each county's share based on the proportion of the producer's property cost located within that county. The Commission further apportions the tax among local taxing units (like school districts) using a weighted formula based on property value and prior year tax rates. This bill directly affects renewable energy companies and local governments receiving tax funds, with retroactive application starting January 1, 2026.