1998 Legislation
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HOUSE BILL NO. 620 – Contributions/education/tax credit


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Daily Data Tracking History

H0620...............................................by REVENUE AND TAXATION
CONTRIBUTION - EDUCATIONAL PURPOSES - Amends existing law to increase the
amount of the tax credit allowed for contributions for educational purposes
from $50.00 to $100 for individuals and from $500 to $1,000 for

02/04    House intro - 1st rdg - to printing
02/05    Rpt prt - to Rev/Tax
02/23    Rpt out - rec d/p - to 2nd rdg
02/24    2nd rdg - to 3rd rdg
02/26    3rd rdg - PASSED - 49-15-6
      AYES -- Alltus, Barraclough, Barrett, Bieter, Bivens, Black(15),
      Bruneel, Callister, Campbell, Clark, Crow, Cuddy, Deal, Ellsworth,
      Field(13), Field(20), Gould, Hadley, Hansen, Henbest, Hornbeck,
      Jaquet, Jones(22), Jones(20), Kellogg, Kempton, Kunz, Lake,
      Loertscher, Mader, Marley, McKague, Meyer, Miller, Mortensen,
      Pischner, Ridinger, Sali, Schaefer, Stone, Stubbs, Taylor, Tilman,
      Tippets, Trail, Watson, Wheeler, Zimmermann, Mr Speaker
      NAYS -- Bell, Black(23), Boe, Chase, Denney, Geddes, Jones(9), Judd,
      Kendell, Pomeroy, Reynolds, Richman, Robison, Stevenson, Stoicheff
      Absent and Excused -- Crane, Gagner, Kjellander, Linford, Newcomb,
    Floor Sponsor - Clark
    Title apvd - to Senate
02/27    Senate intro - 1st rdg - to Loc Gov

Bill Text


 ||||              LEGISLATURE OF THE STATE OF IDAHO             ||||
Fifty-fourth Legislature                 Second Regular Session - 1998

                             IN THE HOUSE OF REPRESENTATIVES

                                    HOUSE BILL NO. 620

                            BY REVENUE AND TAXATION COMMITTEE

 1                                        AN ACT
 4        POSES.

 5    Be It Enacted by the Legislature of the State of Idaho:

 6        SECTION  1.  That Section 63-3029A, Idaho Code, be, and the same is hereby
 7    amended to read as follows:

 9    At the election of the taxpayer, there shall be allowed, subject to the appli-
10    cable  limitations provided herein, as a credit against the income tax imposed
11    by chapter 30, title 63, Idaho Code, an amount equal to fifty percent (50%) of
12    the aggregate amount of charitable contributions made by such taxpayer  during
13    the  year  to a nonprofit corporation, fund, foundation, trust, or association
14    organized and operated exclusively for the benefit of institutions  of  higher
15    learning  located  within  the  state of Idaho, to nonprofit private or public
16    institutions of elementary, secondary, or higher education  or  their  founda-
17    tions  located  within the state of Idaho, to Idaho education public broadcast
18    system foundations within the state of Idaho, to the  Idaho  state  historical
19    society  or  its  foundation, and to public libraries or their foundations and
20    library districts or their foundations located within the state of Idaho,  and
21    to nonprofit public or private museums or their foundations located within the
22    state of Idaho.
23        1.  In  the case of a taxpayer other than a corporation, the amount allow-
24    able as a credit under this section for any  taxable  year  shall  not  exceed
25    twenty  percent (20%) of such taxpayer's total income tax liability imposed by
26    section 63-3024, Idaho Code, for the year, or   fifty      one
27    hundred    dollars  ($  5   10 0 .00 ),
28    whichever is less.
29        2.  In the case of a corporation, the amount allowable as a  credit  under
30    this  section  for any taxable year shall not exceed ten percent (10%) of such
31    corporation's total income or franchise  tax  liability  imposed  by  sections
32    63-3025  and  63-3025A, Idaho Code, for the year, or  five hundred 
33     one thousand  dollars ($ 5  1,0 00),  which-
34    ever is less.
35        For  the  purposes of this section, "institution of higher learning" means
36    only an educational institution located within this state meeting all  of  the
37    following requirements:
38        (a)  It  maintains  a  regular  faculty and curriculum and has a regularly
39        enrolled body of students in attendance at the place where its educational
40        activities are carried on.
41        (b)  It regularly offers education above the twelfth grade.
42        (c)  It is accredited by the Northwest Association  of  Schools  and  Col-
43        leges, or by the state board of education.


 1        For  the purposes of this section, a nonprofit institution of secondary or
 2    higher education means a private nonprofit  secondary  or  higher  educational
 3    institution  located  within  the  state  of Idaho, which is accredited by the
 4    Northwest Association of Schools and Colleges, or by the state board of educa-
 5    tion. A nonprofit private institution of elementary education means a  private
 6    nonprofit elementary educational institution located within the state of Idaho
 7    and approved by the state board of education.

Statement of Purpose / Fiscal Impact


                           STATEMENT OF PURPOSE
                                 RS 07647
    This legislation will double the amount allowable as an 
    income tax credit from charitable contributions to primary and 
    secondary education, libraries, public television and foundations 
    for the benefit of education.
                               FISCAL NOTE
    For the 1996 tax year 33,999 used section 63-3029A for a cost 
    of $2,017,065 and 424 businesses used section 63-3020A for cost of 
    $78,028.80. The impact of doubling the tax credit would put the 
    cost per return at $118.66 and $268.06 respectively. The estimated 
    cost of this legislation is $2,095,284.90.
    CONTACT: Rep Jim Clark
    Phone: 332-1000
    Bill No. H 620