LOS ANGELES - A proposal to limit property taxes in Idaho may harm some local governments' credit quality and reduce their ability to issue debt, according to a Standard & Poor's Corp. report scheduled for release today.

The so-called One Percent Initiative, favored by 60% of respondents in a recent poll, will appear on the statewide ballot Nov. 3. If passed, all Idaho property taxes would be limited to 1% of market value effective Jan. 1, 1993.

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