Print Friendly HOUSE BILL NO. 553 – Community college, property tax pd
HOUSE BILL NO. 553
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H0553...............................................by REVENUE AND TAXATION
COMMUNITY COLLEGES - Adds to existing law to provide a state income tax
credit for property taxes paid by the taxpayer for the support of a
community college district.
02/11 House intro - 1st rdg - to printing
02/14 Rpt prt - to Rev/Tax
|||| LEGISLATURE OF THE STATE OF IDAHO ||||
Fifty-fifth Legislature Second Regular Session - 2000
IN THE HOUSE OF REPRESENTATIVES
HOUSE BILL NO. 553
BY REVENUE AND TAXATION COMMITTEE
1 AN ACT
2 RELATING TO INCOME TAXES; AMENDING CHAPTER 30, TITLE 63, IDAHO CODE, BY THE
3 ADDITION OF A NEW SECTION 63-3029I, IDAHO CODE, TO PROVIDE A STATE INCOME
4 TAX CREDIT FOR PROPERTY TAXES PAID BY THE TAXPAYER FOR THE SUPPORT OF A
5 COMMUNITY COLLEGE DISTRICT AND TO PROVIDE A MAXIMUM CREDIT; DECLARING AN
6 EMERGENCY AND PROVIDING RETROACTIVE APPLICATION.
7 Be It Enacted by the Legislature of the State of Idaho:
8 SECTION 1. That Chapter 30, Title 63, Idaho Code, be, and the same is
9 hereby amended by the addition thereto of a NEW SECTION, to be known and des-
10 ignated as Section 63-3029I, Idaho Code, and to read as follows:
11 63-3029I. INCOME TAX CREDIT FOR PROPERTY TAXES PAID FOR COMMUNITY COLLEGE
12 SUPPORT. At the election of the taxpayer, there shall be allowed, subject to
13 the applicable limitations provided herein, as a credit against the income tax
14 imposed by chapter 30, title 63, Idaho Code, an amount equal to one hundred
15 percent (100%) of the aggregate amount of property tax paid by such taxpayer
16 during the year for the support of a community college district pursuant to
17 chapter 21, title 33, Idaho Code.
18 The amount allowable as a credit under this section for any taxable year
19 shall not exceed five hundred dollars ($500).
20 SECTION 2. An emergency existing therefor, which emergency is hereby
21 declared to exist, this act shall be in full force and effect on and after its
22 passage and approval, and retroactively to January 1, 2000.
STATEMENT OF PURPOSE
Only the counties of Kootenai, Twin Falls, and Jerome pay local property
taxes in support of their respective community colleges ----- College of Southern
Idaho and North Idaho College.
This legislation would provide for a credit against imposed income taxes.
The amount of credit would equal that portion of annual local property tax paid as
levied in support of the community college.
This credit shall not exceed $500.00.
Unrealized General Fund Revenue
Kootenai County Fund Credit ................. 2.7 million
Twin Falls County Estimated Credit......... 1.4 million
Jerome County Estimated Credit ............ 0.5 million
Total 4.6 million
CONTACT: Representatives, Don Pischner, Randy Hansen, Maxine Bell
STATEMENT OF PURPOSE/ FISCAL NOTE H 553