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H0381...............................................by REVENUE AND TAXATION
REAL PROPERTY TAX - Adds to existing law to provide for a state income tax
credit for the payment of real property taxes by certain taxpayers during
tax year 2001; to provide a definition of "mining"; to provide the maximum
amount of the credit; and to provide procedures.
03/28 House intro - 1st rdg - to printing
03/29 Rpt prt - to 2nd rdg
03/30 2nd rdg - to 3rd rdg
Rls susp - PASSED - 54-6-10
AYES -- Barraclough, Barrett, Bedke, Bell, Black, Boe, Bolz,
Bradford, Bruneel, Chase, Collins, Cuddy, Deal, Denney, Eskridge,
Field(13), Hadley, Hammond, Hansen, Harwood, Henbest(Farley),
Higgins, Hornbeck, Jaquet, Jones, Kellogg, Kendell, Kunz, Langford,
Loertscher, Mader, Marley, McKague, Meyer, Montgomery, Mortensen,
Moyle, Pischner, Pomeroy, Raybould, Ridinger, Sali, Schaefer,
Sellman, Shepherd, Smylie, Stevenson, Stone, Tilman, Trail, Wheeler,
Wood, Young(Young), Mr. Speaker
NAYS -- Bieter, Clark, Gagner, Lake, Moss, Robison
Absent and excused -- Callister, Campbell, Crow, Ellis, Ellsworth,
Field(20), Gould, Pearce, Roberts, Smith
Floor Sponsor -- Cuddy
Title apvd - to Senate
03/30 Senate intro - to 1st rdg
|||| LEGISLATURE OF THE STATE OF IDAHO ||||
Fifty-sixth Legislature First Regular Session - 2001
IN THE HOUSE OF REPRESENTATIVES
HOUSE BILL NO. 381
BY REVENUE AND TAXATION COMMITTEE
1 AN ACT
2 RELATING TO INCOME TAX; AMENDING CHAPTER 30, TITLE 63, IDAHO CODE, BY THE
3 ADDITION OF A NEW SECTION 63-3024C, IDAHO CODE, TO PROVIDE FOR STATE
4 INCOME TAX CREDIT FOR THE PAYMENT OF REAL PROPERTY TAXES BY CERTAIN TAX-
5 PAYERS DURING TAX YEAR 2001, TO PROVIDE A DEFINITION OF "MINING," TO PRO-
6 VIDE THE MAXIMUM AMOUNT OF CREDIT AND TO PROVIDE PROCEDURES; DECLARING AN
7 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 63-3024C, Idaho Code, and to read as follows:
12 63-3024C. INCOME TAX CREDIT FOR REAL PROPERTY TAXES. (1) For taxable
13 year 2001 only, there shall be allowed as a credit against taxes due under
14 this chapter one hundred percent (100%) of the amount of taxes due in December
15 2001 on class 1 property as defined in section 63-204, Idaho Code, that is
16 real property used in mining, and used solely in mining during tax year 2001.
17 For purposes of this section, "mining" shall mean the activities performed in
18 the extraction of minerals from the ground including, but not limited to, the
19 excavation of pits, removal of minerals, crushing, milling, disposal of over-
20 burden, the construction of haulage roads, beneficiation, transportation and
21 stockpiling.
22 (2) The maximum amount of the credit established by this section shall be
23 that enumerated in subsection (1) of this section. If taxes due are less than
24 the total credit allowed, the taxpayer shall be paid a refund. If the credit
25 or refund is not claimed for the year for which the income tax return is
26 filed, the right thereafter to claim such credit or refund shall be forfeited.
27 The state tax commission shall prescribe the method by which the refund, if
28 any, is to be made to the taxpayer.
29 (3) The refunds authorized by this section shall be paid from the state
30 refund fund in the same manner as the refunds authorized by section 63-3067,
31 Idaho Code. An application for any refund which is due and payable under the
32 provisions of this section must be filed with the state tax commission by the
33 due date, including extensions, of the return required under section 63-3030,
34 Idaho Code, if the applicant is required to file a return, or by the fifteenth
35 day of April of the year following the year to which the application relates
36 if the applicant is not required to file a return.
37 (4) The state tax commission may promulgate rules to implement the provi-
38 sions of this section. The commission may require such receipts and documenta-
39 tion from taxpayers and county assessors as are necessary to implement the
40 provisions of this section. If sufficient moneys are not available in the
41 state refund fund to pay in full credits or refunds, the state tax commission
42 may grant a pro rata share to all taxpayers based on the amount of the credit
43 for real property taxes paid pursuant to the formula provided in this section
2
1 to ensure soundness of the fund.
2 SECTION 2. An emergency existing therefor, which emergency is hereby
3 declared to exist, this act shall be in full force and effect on and after its
4 passage and approval, and retroactively to January 1, 2001.
STATEMENT OF PURPOSE
RS 11303
For the taxable year 2001, only, this bill provides a 100
percent tax credit for property taxes due for real property
used in mining.
FISCAL IMPACT
Real Property Credit for Mining $1.7 million
ContactName: Jack Lyman, Idaho Mining Association
Phone: 342-0031
STATEMENT OF PURPOSE/FISCAL NOTE H 381