The Idaho Senate approved adding a property tax exemption to student housing built by a private company on state college and university campuses. The legislation now needing approval from the governor would help Boise State University (BSU), which is contracting with a private company to build a new building on campus for student housing.
Land and buildings owned by universities are exempt from the state property tax. Sen. Curt McKenzie, R-Nampa, said extending that exemption to a private builder would help BSU. “They have a great need to have additional student housing on campus,” he said. “Hopefully, this helps them to build some student housing without using tax dollars.” A Texas company, American Campus Communities (ACC), would build the dormitory and then get a 65-year lease on the building and rent rooms out to students.
Read IdahoReporter.com’s story on House passage of the legislation here. The text of the legislation is available here.
