Democratic lawmakers rolled out their plan to create jobs this morning. It’s dubbed IJOBS 2.0 and is made up of six bills ranging from tax credits to an accountability measure.
Here’s the list from Spokesman Review reporter and Eye on Boise blogger Betsy Russell:
- HB 435, the “Corporate Tax Incentive and Accountability Act,” would require public disclosure of details of tax incentives directed to corporations, including purpose, amount, and how many jobs were created each year.
- The “Value-Added Agriculture and Farmer Empowerment Act” would explore granting a 50 percent tax credit for every dollar an Idaho farmer or rancher invests in a state-of-the-art agricultural processing venture or majority owned farmer cooperative.
- An “Idaho Partnership Bank,” modeled after a North Dakota project, would make more capital available to small businesses by partnering with local community banks.
- The “Business Relocation & Finder’s Fee Tax Credit” would encourage Idaho businesses to persuade vendors, partners and others to relocate the state; both the existing business and the relocating business would get a $500 tax credit for each full-time employee hired by the relocating business for two years.
- The “Buy Idaho First Contracting Act” would allow state agencies to award contracts to Idaho companies even if their bids are up to 5 percent higher than the lowest out-of-state bid.
- The “Micro Enterprise Bridge Loan Program” would bond to raise capital for loans of up to $35,000 for start-up, expansion or modernization of small businesses and entrepreneurial start-ups.
Democrats proposed a similar set of bills during the 2010 legislative session. It was called the IJOBS package. Each of those measures failed.
Representative Brian Cronin (D-Boise) told Boise State Public Radio each piece of legislation is intended to boost economic development. “Many of these initiatives focus on the long term task of breaking out of the low wage trap that Idaho is in,” Cronin said.