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HOUSE BILL NO. 665

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Daily Data Tracking History

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H0665...............................................by REVENUE AND TAXATION
INCOME TAX - Amends existing law to provide that for taxable years
commencing on and after January 1, 2000, an additional deduction of three
hundred dollars shall be allowed in the case of a joint return where the
standard deduction is claimed.
                                                                        
02/23    House intro - 1st rdg - to printing
02/24    Rpt prt - to Rev/Tax

Bill Text

 H0665
                                                                        
                                                                        
  ||||              LEGISLATURE OF THE STATE OF IDAHO             ||||
 Fifty-fifth Legislature                  Second Regular Session - 2000
                                                                        
                                                                        
                              IN THE HOUSE OF REPRESENTATIVES
                                                                        
                                     HOUSE BILL NO. 665
                                                                        
                             BY REVENUE AND TAXATION COMMITTEE
                                                                        
  1                                        AN ACT
  2    RELATING TO INCOME TAX; AMENDING SECTION 63-3022N, IDAHO CODE, TO PROVIDE  FOR
  3        TAXABLE  YEARS  COMMENCING  ON  AND  AFTER JANUARY 1, 2000,  AN ADDITIONAL
  4        DEDUCTION OF THREE HUNDRED DOLLARS SHALL BE ALLOWED IN THE CASE OF A JOINT
  5        RETURN WHERE THE STANDARD DEDUCTION IS CLAIMED; DECLARING AN EMERGENCY AND
  6        PROVIDING RETROACTIVE APPLICATION.
                                                                        
  7    Be It Enacted by the Legislature of the State of Idaho:
                                                                        
  8        SECTION 1.  That Section 63-3022N, Idaho Code, be, and the same is  hereby
  9    amended to read as follows:
                                                                        
 10        63-3022N.  MARRIAGE PENALTY REDUCTION. For taxable years commencing on and
 11    after  January 1, 19992000, an additional deduction of one hundred fifty three
 12    hundred dollars ($15300) shall be allowed in the case of a joint return  where
 13    the standard deduction as defined in section 63-3022, Idaho Code, is claimed.
                                                                        
 14        SECTION  2.  An  emergency  existing  therefor,  which emergency is hereby
 15    declared to exist, this act shall be in full force and effect on and after its
 16    passage and approval, and retroactively to January 1, 2000.

Statement of Purpose / Fiscal Impact

     
     
                 STATEMENT OF PURPOSE
                       RS09754 
     
     This bill increases the additional standard deduction for joint returns from $150 to
     $300 effective 1/l/2000. 
     
     
     
     
     
     
     
                    FISCAL IMPACT
     
     This bill reduces the General Fund by $1,250,000 beginning in FY 2001. 
     
     
     
     
     
     
     
     CONTACT 
     Name:      Michael Ferguson 
     Agency:    Division of Financial Management
     Phone:      334-3900 
     
                                             STATEMENT OF PURPOSE/FISCAL IMPACT                               H 665