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<DIV><FONT face=Arial size=2>Visionaries:</FONT></DIV>
<DIV><FONT face=Arial size=2></FONT> </DIV>
<DIV><FONT face=Arial size=2>This is just a brief note on the personal property
tax. The Idaho Association of Commerce and Industry has apparently been
lobbying hard for legislation to eliminate personal property tax.
Reportedly, representatives of IACI have been doing a considerable number of
one-on-one discussions with certain legislators. </FONT></DIV>
<DIV><FONT face=Arial size=2></FONT> </DIV>
<DIV><FONT face=Arial size=2>Dennis Lake, the Chair of Revenue and Taxation,
tells me he has seen no legislation on the proposal at this time. However,
he expects it may come along in two weeks or so. </FONT></DIV>
<DIV><FONT face=Arial size=2></FONT> </DIV>
<DIV><FONT face=Arial size=2>The impact of this proposal is approximately
130,000,000.</FONT></DIV>
<DIV><FONT face=Arial size=2></FONT> </DIV>
<DIV><FONT face=Arial size=2>Shirley</FONT></DIV></BODY></HTML>