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H0328..........................................................by EDUCATION
TEACHERS - INCOME TAX CREDIT - Adds to existing law to provide an income
tax credit for the purchase of books or school supplies by a certificated
school teacher teaching in an accredited public or private school in Idaho;
and to provide the maximum amount of the credit.
02/23 House intro - 1st rdg - to printing
02/26 Rpt prt - to Rev/Tax
|||| LEGISLATURE OF THE STATE OF IDAHO ||||
Fifty-sixth Legislature First Regular Session - 2001
IN THE HOUSE OF REPRESENTATIVES
HOUSE BILL NO. 328
BY EDUCATION COMMITTEE
1 AN ACT
2 RELATING TO INCOME TAX CREDITS; AMENDING CHAPTER 30, TITLE 63, IDAHO CODE, BY
3 THE ADDITION OF A NEW SECTION 63-3029AA, IDAHO CODE, TO PROVIDE AN INCOME
4 TAX CREDIT FOR THE PURCHASE OF BOOKS OR SCHOOL SUPPLIES BY AN INDIVIDUAL
5 WHO IS A CERTIFICATED SCHOOL TEACHER TEACHING IN AN ACCREDITED PUBLIC OR
6 PRIVATE SCHOOL IN IDAHO AND TO PROVIDE THE MAXIMUM AMOUNT OF THE CREDIT;
7 DECLARING AN EMERGENCY AND PROVIDING RETROACTIVE APPLICATION.
8 Be It Enacted by the Legislature of the State of Idaho:
9 SECTION 1. That Chapter 30, Title 63, Idaho Code, be, and the same is
10 hereby amended by the addition thereto of a NEW SECTION, to be known and des-
11 ignated as Section 63-3029AA, Idaho Code, and to read as follows:
12 63-3029AA. INCOME TAX CREDIT FOR SCHOOL SUPPLIES PURCHASED BY PUBLIC
13 SCHOOL TEACHERS -- LIMITATION. At the election of the taxpayer, there shall be
14 allowed, subject to the applicable limitations provided herein, as a credit
15 against the income tax imposed by chapter 30, title 63, Idaho Code, an amount
16 equal to one hundred percent (100%) of the aggregate amount of books or school
17 supplies purchased by such taxpayer during the year for use in the classes
18 taught by the taxpayer in the accredited public or private schools of Idaho,
19 or four hundred dollars ($400), whichever is less. If taxes due are less than
20 the total credit allowed, the taxpayer shall be paid a refund equal to the
21 balance of the unused credit. In order to claim the credit pursuant to this
22 section, the taxpayer shall be a certificated teacher teaching in an accred-
23 ited public or private school in Idaho, and the taxpayer shall not have
24 been reimbursed by the school or school district for the purchase of the books
25 or school supplies.
26 SECTION 2. An emergency existing therefor, which emergency is hereby
27 declared to exist, this act shall be in full force and effect on and after its
28 passage and approval, and retroactively to January 1, 2001.
STATEMENT OF PURPOSE
RS 11175
The purpose of this legislation is to provide an income tax
credit for school supplies purchased by public school teachers.
At the election of the taxpayer, there shall be allowed, subject
to the applicable limitations provided as a credit against income
tax imposed by Chapter 30, Title 63, Idaho Code, an amount equal
to one hundred percent (100%) of the aggregate amount of books or
school supplies purchased by such taxpayer during the year for
use in the classes taught by the taxpayer in the public and
private schools of Idaho, or four hundred dollars ($400),
whichever is less. In order to claim the credit pursuant to this
section, the taxpayer shall be a certified teacher teaching in an
accredited public or private school in Idaho. The teacher?s
school shall receive moneys pursuant to Chapter 10, Title 33,
Idaho Code, and the taxpayer shall not have been reimbursed by
the school or the school district for the purchase of the books
or school supplies.
FISCAL IMPACT
The fiscal impact to the General Fund is $3,000,000. Many school
districts reimburse teachers for school supplies, so the fiscal
impact may be less.
Contact
Name: Rep. Tom Trail
Phone: 332-1202
STATEMENT OF PURPOSE/FISCAL NOTE H 328