Print Friendly HOUSE BILL NO. 761 – Rehab facility foundation/donations
HOUSE BILL NO. 761
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H0761...............................................by REVENUE AND TAXATION
REHABILITATION FACILITIES - Amends existing law to provide that the income
tax credit available for contributions to certain rehabilitation facilities
shall also apply to foundations of those facilities.
02/23 House intro - 1st rdg - to printing
02/24 Rpt prt - to Rev/Tax
|||| LEGISLATURE OF THE STATE OF IDAHO ||||
Fifty-fourth Legislature Second Regular Session - 1998
IN THE HOUSE OF REPRESENTATIVES
HOUSE BILL NO. 761
BY REVENUE AND TAXATION COMMITTEE
1 AN ACT
2 RELATING TO INCOME TAX CREDIT FOR REHABILITATION FACILITIES; AMENDING SECTION
3 63-3029C, IDAHO CODE, TO PROVIDE THAT THE INCOME TAX CREDIT AVAILABLE FOR
4 CONTRIBUTIONS TO CERTAIN REHABILITATION FACILITIES SHALL ALSO APPLY TO
5 FOUNDATIONS OF THOSE FACILITIES; PROVIDING AN EFFECTIVE DATE AND PROVIDING
7 Be It Enacted by the Legislature of the State of Idaho:
8 SECTION 1. That Section 63-3029C, Idaho Code, be, and the same is hereby
9 amended to read as follows:
10 63-3029C. INCOME TAX CREDIT FOR REHABILITATION FACILITIES -- LIMITATION.
11 At the election of the taxpayer, there shall be allowed, subject to the appli-
12 cable limitations provided herein, as a credit against the income tax imposed
13 by chapter 30, title 63, Idaho Code, an amount equal to fifty percent (50%) of
14 the aggregate amount of charitable contributions made by such taxpayer during
15 the year to the anchor house or its foundation , to the Idaho
16 youth ranch or its foundation , to the north Idaho children '
17 s ' home or its foundation , or to a nonprofit
18 rehabilitation facility or its foundation located within the
19 state of Idaho.
20 (1) In the case of a taxpayer other than a corporation, the amount allow-
21 able as a credit under this section for any taxable year shall not exceed
22 twenty percent (20%) of such taxpayer's total income tax liability imposed by
23 section 63-3024, Idaho Code, for the year, or one hundred dollars ($100),
24 whichever is less.
25 (2) In the case of a corporation, the amount allowable as a credit under
26 this section for any taxable year shall not exceed ten percent (10%) of such
27 corporation's total income or franchise tax liability imposed by sections
28 63-3025 and 63-3025A, Idaho Code, for the year, or five hundred dollars
29 ($500), whichever is less.
30 For the purposes of this section, "nonprofit rehabilitation facility"
31 means only a facility that is accredited by the commission on accreditation of
32 rehabilitation facilities.
33 SECTION 2. This act shall be in full force and effect on and after July
34 1, 1998, and shall apply to tax years on and after 1998.
STATEMENT OF PURPOSE
The purpose of this legislation is to provide an
amendment to Section 63-3029C, Idaho Code, to allow individual
and corporate donations given to each of the Rehabilitation
Facility Foundations to qualify for an Idaho Income Tax
Credit When the original legislation was first enacted, it
did not provide for donations to the rejective entity's
foundations and was not a consideration at the time.
Data indicates the financial impact under the
current credit for Rehabilitation Facilities is $3.2
million. By including these foundation in the law,
there would be no significant increase in the fiscal
CONTACT: Rep Reed Hansen
STATEMENT OF PURPOSE/FISCAL NOTE