Tax panel rejects road financing plan

Tax panel rejects road financing plan

Credit: KTVB

Tax panel rejects road financing plan

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by Associated Press

KTVB.COM

Posted on March 14, 2013 at 11:34 AM

Updated Wednesday, Nov 13 at 8:11 AM

BOISE -- The House Revenue and Taxation Committee dumped a bid to help developers to finance highway projects with bonds backed by Idaho sales taxes.

Thursday's 9-6 rejection came after representatives said they were leery of putting Idaho taxpayers on the hook, if tax revenue promised to accompany such projects to pay for the bonds doesn't materialize.

Jeremy Pisca is a lobbyist representing developer M3 with land along State Highway 16 in southwestern Idaho that could have benefited from a so-called "Transportation and Economic Development Zone."

Pisca contends strict rules would have protected Idaho from risky endeavors -- while freeing up money for infrastructure projects that the state Transportation Department can't pay for now.

But Rep. Lenore Barrett of Challis dubbed it a "fly now, pay later" government program that could backfire.

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