REVENUE AND TAXATION – Amends existing law to revise provisions regarding budget limitations and exceptions and to revise certain definitions regarding urban renewal financing.

This bill (H 670) creates a new process for fire protection and ambulance service districts to withdraw from urban renewal revenue-sharing plans. It allows these districts to opt out if the urban renewal plan has no outstanding debts (bonds or obligations) funded by their allocated revenue. To withdraw, districts must request a revenue accounting by May 1 and adopt a withdrawal resolution by June 1, submitting it to the urban renewal agency. The bill amends Idaho law to formalize this withdrawal procedure, affecting districts that previously could not easily exit such financing arrangements.