(1) For taxable years beginning on or after January 1, 2006, and before December 31, 2030, subject to the limitations of this chapter, a taxpayer who has certified that the tax incentive criteria will be met within a project site during a project period shall be allowed a nonrefundable credit against taxes imposed by sections 63-3024, 63-3025 and 63-3025A, Idaho Code, in the amount of two and five-tenths percent (2.5%) of the investment in new plant which is incurred during the project period applicable to the project site in which the investment is made.
(2)  The credit allowed by this section shall not exceed one hundred twenty-five thousand dollars ($125,000) in any one (1) taxable year.
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Terms Used In Idaho Code 63-4404

  • Investment in new plant: means investment in new plant and building facilities that are:
Idaho Code 63-4402
  • New plant and building facilities: means facility or facilities, including related parking facilities, where employees are physically employed. See Idaho Code 63-4402
  • Project period: means the period of time beginning at a physical change to the project site or the first employment of new employees located in Idaho who are related to the activities at the project site, and ending when the facilities constituting the project are placed in service, but no later than December 31, 2030, and no longer than ten (10) years after the beginning. See Idaho Code 63-4402
  • Project site: means an area or areas at which new plant and building facilities are located and at which the tax incentive criteria have been or will be met and which are either:
    • Idaho Code 63-4402
  • Tax incentive criteria: means a business entity meeting at a project site the requirements of subparagraphs (i) and (ii) of this paragraph. See Idaho Code 63-4402
    • (3)  No credit is allowable under this section for a qualified investment in regard to which a credit under section 63-4403, Idaho Code, is available.
    (4)  The credit allowed by this section is limited to buildings and structural components of buildings related to new plant and building facilities.