Idaho’s October revenues took a hit as state made catch-up payment to Meridian developer

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Here's my full story from spokesman.com: By Betsy Z. Russell BOISE - Idaho state tax revenues fell below forecasts in October for the first time this fiscal year, coming in $8 million short – and a quarter of the shortfall was because of an unexpectedly big one-time payment of $2.7 million to the developer of the giant Village at Meridian retail project. Idaho lawmakers first passed the STAR legislation, short for State Tax Anticipation Revenue, in 2007 to allow big outdoors retailer Cabela’s to front the money for a new $40 million interchange on I-90 at Post Falls, and be paid back over the years through refunds of 60 percent of the sales tax revenues generated at the complex containing its new store there, up to a cap of $35 million. The...
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