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H0504...............................................by REVENUE AND TAXATION
STATE REFUND ACCOUNT - Amends existing law to increase to $1,500,000 the
unencumbered balance which may remain in the State Refund Account on June
30 of each year.
01/23 House intro - 1st rdg - to printing
01/26 Rpt prt - to Rev/Tax
02/04 Rpt out - rec d/p - to 2nd rdg
02/05 2nd rdg - to 3rd rdg
02/06 3rd rdg - PASSED - 66-0-4
AYES -- Alltus, Barraclough, Barrett, Bell, Bieter, Bivens,
Black(15), Boe, Bruneel, Callister, Campbell, Chase, Clark, Crane,
Cuddy, Deal, Denney, Ellsworth, Field(13), Field(20), Gagner, Geddes,
Gould, Hadley, Hansen, Henbest, Hornbeck, Jaquet, Jones(9),
Jones(22), Jones(20), Judd, Kellogg, Kempton, Kendell, Kjellander,
Kunz, Lake, Linford, Loertscher, Mader, Marley, McKague, Meyer,
Miller, Mortensen, Newcomb, Pischner, Pomeroy, Reynolds, Richman,
Ridinger, Robison, Schaefer, Stevenson, Stoicheff, Stone, Stubbs,
Tilman, Tippets, Trail, Watson, Wheeler, Wood, Zimmermann, Mr Speaker
NAYS -- None
Absent and excused -- Black(23), Crow, Sali, Taylor
Floor Sponsor - Linford
Title apvd - to Senate
02/09 Senate intro - 1st rdg - to Loc Gov
02/12 Rpt out - to 14th Ord
02/19 Rpt out w/o amen - to 2nd rdg
02/20 2nd rdg - to 3rd rdg
03/10 3rd rdg - PASSED - 34-0-1
AYES--Andreason, Boatright, Branch, Bunderson, Burtenshaw, Cameron,
Crow, Danielson, Darrington, Deide, Dunklin, Frasure, Geddes, Hansen,
Hawkins, Ingram, Ipsen, Keough, King, Lee, McLaughlin, Noh, Parry,
Richardson, Riggs, Risch, Sandy, Schroeder, Stennett, Sweeney,
Thorne, Twiggs, Wheeler, Whitworth
NAYS--None
Absent and excused--Sorensen
Floor Sponsor - Parry
Title apvd - to House
03/11 To enrol
03/12 Rpt enrol - Sp signed
03/13 Pres signed
03/16 To Governor
03/18 Governor signed
Session Law Chapter 62
Effective: 06/30/98
H0504|||| LEGISLATURE OF THE STATE OF IDAHO |||| Fifty-fourth Legislature Second Regular Session - 1998IN THE HOUSE OF REPRESENTATIVES HOUSE BILL NO. 504 BY REVENUE AND TAXATION COMMITTEE 1 AN ACT 2 RELATING TO INCOME TAX AND THE STATE REFUND ACCOUNT; AMENDING SECTION 63-3067, 3 IDAHO CODE, TO INCREASE THE UNENCUMBERED BALANCE WHICH MAY REMAIN IN THE 4 STATE REFUND ACCOUNT ON JUNE 30 OF EACH YEAR; DECLARING AN EMERGENCY AND 5 PROVIDING AN EFFECTIVE DATE. 6 Be It Enacted by the Legislature of the State of Idaho: 7 SECTION 1. That Section 63-3067, Idaho Code, be, and the same is hereby 8 amended to read as follows: 9 63-3067. REVENUE RECEIVED -- STATE REFUND ACCOUNT. All moneys, except as 10 hereinafter provided, received by the state of Idaho under this act shall be 11 deposited by the state tax commission, as received by it, with the state trea- 12 surer and shall be placed in and become a part of the general account under 13 the custody of the state treasurer. Providing however, that an amount equal to 14 twenty per cent (20%) of the amount deposited with the state treasurer shall 15 be placed in the "state refund account" which is hereby created for the pur- 16 pose of repaying overpayments, for the purpose of depositing in the trust 17 accounts specified in section 63-3067A, Idaho Code, such amounts as may be 18 designated by individuals for the purpose of depositing in the Idaho ag in the 19 classroom account an amount as may be designated by the individual receiving a 20 refund for such overpayment, and for the purpose of paying any other erroneous 21 receipts illegally assessed or collected, penalties collected without author- 22 ity and taxes and licenses unjustly assessed, collected or which are excessive 23 in amount. Whenever necessary for the purpose of making prompt payment of 24 refunds, the board of examiners, upon request from the state tax commission, 25 and after review, may authorize the state tax commission to transfer any addi- 26 tional specific amount from income tax collections to the "state refund 27 account." There is appropriated out of the state refund account so much 28 thereof as may be necessary for the payment of the refunds herein provided. 29 Claims for, and payment of refunds under the provisions of this section shall 30 be made in the same manner as other claims against the state of Idaho. 31 Any unencumbered balance remaining in the state refund account on June 30 32 of each and every year in excess of the sum offourone 33 million five hundred thousand dollars ($41,5 34 00,000) shall be transferred to the general account and the state con- 35 troller is hereby authorized and directed on such dates to make such transfers 36 unless the board of examiners, which is hereby authorized to do so, changes 37 the date of transfer or sum to be transferred. 38 SECTION 2. An emergency existing therefor, which emergency is hereby 39 declared to exist, this act shall be in full force and effect on and after 40 June 30, 1998.
STATEMENT OF PURPOSE
RS 07384
This bill changes the annual carry over balance in the state
refund account. The State Tax commission pays refunds to
taxpayers from this account. The bill increase the balance of
the state refund account carried from one fiscal year to the
next from four hundred thousand dollars to one million five
hundred thousand dollars. The change first applies to the
balance carried from FY 1998 to FY 1999.
FISCAL NOTE
No actual revenue loss. $1,100,000 of general fund money will
shift from FY 1998 to FY 1999.
CONTACT: Dan John / Ted Spangler
Agency: State Tax Commission
Phone: 334-7530
STATEMENT OF PURPOSE/ FISCAL NOTE
Bill No. H504