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H0174...............................................by REVENUE AND TAXATION
MINE LICENSE TAX - Amends existing law to reduce the mine license tax from
two percent to one percent of the net value of royalties or of the ores
mined and extracted.
02/07 House intro - 1st rdg - to printing
02/08 Rpt prt - to Rev/Tax
02/21 Rpt out - rec d/p - to 2nd rdg
02/22 2nd rdg - to 3rd rdg
02/26 3rd rdg - PASSED - 61-4-5
AYES -- Barraclough, Barrett, Bedke, Bell, Black, Bolz, Bradford,
Bruneel, Callister, Campbell, Chase, Clark, Collins, Crow, Cuddy,
Deal, Denney, Ellis, Ellsworth, Eskridge, Field(13), Field(20),
Gagner, Gould, Hadley, Hammond, Harwood, Higgins, Hornbeck, Jaquet,
Kellogg, Kendell, Kunz, Lake, Langford, Loertscher, Mader, McKague,
Meyer, Montgomery, Mortensen, Moss, Moyle, Pearce, Pischner, Pomeroy,
Raybould, Ridinger, Roberts, Robison, Sali, Schaefer, Sellman,
Shepherd, Smylie, Stevenson, Tilman, Trail, Wood, Young, Mr. Speaker
NAYS -- Bieter, Boe, Henbest, Marley
Absent and excused -- Jones, Smith, Stone, Swan, Wheeler
Floor Sponsor -- Gould
Title apvd - to Senate
02/27 Senate intro - 1st rdg - to Loc Gov
03/08 Rpt out - rec d/p - to 2nd rdg
03/09 2nd rdg - to 3rd rdg
03/19 3rd rdg - PASSED - 28-4-3
AYES -- Andreason, Boatright, Branch, Bunderson, Burtenshaw, Cameron,
Danielson, Darrington, Davis, Deide, Frasure, Geddes, Goedde,
Hawkins, Ingram, Ipsen, Keough, King-Barrutia, Lee, Lodge,
Richardson, Risch, Sandy, Sims, Stegner, Thorne, Wheeler, Williams,
NAYS -- Dunklin, Noh, Schroeder, Stennett
Absent and excused -- Brandt, Sorensen, Whitworth
Floor Sponsor -- Stegner
Title apvd - to House
03/20 To enrol
03/21 Rpt enrol - Sp signed
Pres signed
03/22 To Governor
03/26 Governor signed
Session Law Chapter 207
Effective: 07/01/01
|||| LEGISLATURE OF THE STATE OF IDAHO ||||
Fifty-sixth Legislature First Regular Session - 2001
IN THE HOUSE OF REPRESENTATIVES
HOUSE BILL NO. 174
BY REVENUE AND TAXATION COMMITTEE
1 AN ACT
2 RELATING TO THE MINE LICENSE TAX; AMENDING SECTION 47-1201, IDAHO CODE, TO
3 REDUCE THE MINE LICENSE TAX FROM TWO PERCENT TO ONE PERCENT OF THE NET
4 VALUE OF ROYALTIES RECEIVED OR OF THE ORES MINED AND EXTRACTED AND TO MAKE
5 A TECHNICAL CORRECTION.
6 Be It Enacted by the Legislature of the State of Idaho:
7 SECTION 1. That Section 47-1201, Idaho Code, be, and the same is hereby
8 amended to read as follows:
9 47-1201. LICENSE TAX TO BE MEASURED BY TWO ONE PERCENT OF THE NET VALUE
10 OF ORES MINED -- DEFINITION OF ROYALTY. (a) Tax on mining or on receiving roy-
11 alties. For the privilege of mining in this state, both placer and rock in
12 place, every person, copartnership, company, joint stock company, trust, cor-
13 poration or association, however and for whatever purpose organized, engaged
14 in mining, upon or receiving royalties from any quartz vein or lode, or placer
15 or rock in place mining claim, in this state containing gold, silver, copper,
16 lead, zinc, coal, phosphate, limestone, or other precious and valuable metals
17 or minerals, or metal or mineral deposits, shall pay to the state of Idaho, in
18 addition to all other taxes provided by law, a license tax equal in amount to
19 two per cent one percent (21%) of the net value of the royalties received or
20 the ores mined or extracted as determined under section 47-1202, Idaho Code,
21 said tax to accrue during the taxable year that the product is sold or used
22 and shall on the last day of such taxable year become a lien on property in
23 this state of such person, copartnership, company, joint stock company, trust,
24 corporation, or association, said tax to be due and payable on or before the
25 fifteenth day of the fourth month following the close of the taxable year.
26 (b) Definition of royalties. For the purpose of paragraph (a) of this
27 section and chapter, the word "royalties" shall be construed to mean the
28 amount in money or value of property received based upon the quantity or value
29 of minerals extracted by any person, copartnership, company, joint stock com-
30 pany, trust, corporation, or association, having any right, title or interest
31 in or to any tract of land, or any economic interest in minerals as defined by
32 section 613 of the Internal Revenue Code, in this state for which permission
33 has been given to another to explore, mine, take out and remove ore therefrom.
34 (c) Definition of taxable year. The term "taxable year" with respect to
35 any taxpayer means the taxable year elected for income tax purposes under the
36 provisions of section 63-3010, Idaho Code.
STATEMENT OF PURPOSE
RS 10849
This bill reduces the mine license tax from two percent to one
percent. Net income from mining will continue to be subject to
personal or corporate income tax.
FISCAL NOTE
Projected revenues from this tax are $750,000 in FY2002.
Of this total, $500,000 would go the General Fund and
$250,000 would go the Abandoned Mine Land Reclamation Account.
This bill would reduce revenue by $375,000; a
$250,000 reduction in general fund revenues and a $125,000
reduction in the abandoned mine land reclamation revenues.
CONTACT:
Jack Lyman
Idaho Mining Association
3442-0031
STATEMENT OF PURPOSE/FISCAL NOTE H 174