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H0492...............................................by REVENUE AND TAXATION
INTERNAL REVENUE CODE - Amends existing law to update the reference to the
Internal Revenue Code in effect on January 1, 2002, for state income tax
purposes.
01/28 House intro - 1st rdg - to printing
01/29 Rpt prt - to Rev/Tax
02/05 Rpt out - rec d/p - to 2nd rdg
02/06 2nd rdg - to 3rd rdg
02/11 3rd rdg - PASSED - 67-2-1
AYES -- Aikele, Barraclough, Barrett, Bedke, Bell, Black, Block, Boe,
Bolz, Bradford, Bruneel, Callister, Campbell, Clark, Collins, Crow,
Cuddy, Deal, Denney, Ellis, Ellsworth, Eskridge, Field(13),
Field(20), Gagner, Gould, Hadley, Hammond, Harwood, Henbest, Higgins,
Hornbeck, Jaquet, Jones, Kellogg, Kendell, Kunz, Lake, Langford,
Loertscher, Mader, Martinez, McKague, Meyer, Montgomery, Mortensen,
Moyle, Pearce, Pischner, Pomeroy, Raybould, Roberts, Sali, Schaefer,
Sellman, Shepherd, Smith(33), Smith(23), Smylie, Stevenson, Stone,
Tilman, Trail, Wheeler, Wood, Young, Mr. Speaker
NAYS -- Bieter, Robison
Absent and excused -- Ridinger
Floor Sponsor - Mader
Title apvd - to Senate
02/12 Senate intro - 1st rdg - to Loc Gov
02/19 Rpt out - rec d/p - to 2nd rdg
02/20 2nd rdg - to 3rd rdg
02/21 3rd rdg - PASSED - 30-0-5
AYES -- Andreason, Boatright, Branch(Bartlett), Brandt, Bunderson,
Burtenshaw, Cameron, Darrington, Davis, Deide, Dunklin, Goedde,
Hawkins, Hill, Ingram, Ipsen, Keough, Little, Lodge, Noh, Richardson,
Risch(Risch), Schroeder, Sims, Sorensen, Stegner, Stennett, Thorne,
Wheeler, Williams
NAYS -- None
Absent and excused -- Frasure, Geddes, King-Barrutia, Marley, Sandy
Floor Sponsor - Bartlett
Title apvd - to House
02/22 To enrol
02/25 Rpt enrol - Sp signed
02/26 Pres signed
02/27 To Governor
03/04 Governor signed
Session Law Chapter 59
Effective: 01/01/02
|||| LEGISLATURE OF THE STATE OF IDAHO ||||
Fifty-sixth Legislature Second Regular Session - 2002
IN THE HOUSE OF REPRESENTATIVES
HOUSE BILL NO. 492
BY REVENUE AND TAXATION COMMITTEE
1 AN ACT
2 RELATING TO INCOME TAXES; AMENDING SECTION 63-3004, IDAHO CODE, TO UPDATE REF-
3 ERENCES TO THE INTERNAL REVENUE CODE; AMENDING SECTION 14-402, IDAHO CODE,
4 TO UPDATE REFERENCES TO THE INTERNAL REVENUE CODE FOR STATE ESTATE TAX
5 PURPOSES AND TO MAKE TECHNICAL CORRECTIONS; DECLARING AN EMERGENCY AND
6 PROVIDING A RETROACTIVE EFFECTIVE DATE.
7 Be It Enacted by the Legislature of the State of Idaho:
8 SECTION 1. That Section 63-3004, Idaho Code, be, and the same is hereby
9 amended to read as follows:
10 63-3004. INTERNAL REVENUE CODE. (a) The term "Internal Revenue Code"
11 means the Internal Revenue Code of 1986 of the United States, as amended, and
12 in effect on the first day of January, 20012.
13 (b) Provisions of the Internal Revenue Code amended, deleted, or added
14 prior to the effective date of the latest amendment to this section shall be
15 applicable for Idaho income tax purposes on the effective date provided for
16 such amendments, deletions, or additions, including retroactive provisions.
17 SECTION 2. That Section 14-402, Idaho Code, be, and the same is hereby
18 amended to read as follows:
19 14-402. DEFINITIONS. As used in this chapter:
20 (1) "Commission" means the Idaho state tax commission.
21 (2) "Decedent" means a deceased individual.
22 (3) "Federal credit" means the maximum amount of the credit for state
23 death taxes allowed by section 2011 of the United States iInternal rRevenue
24 cCode of 1986, as amended or renumbered, and the maximum amount of the credit
25 for the generation skipping tax allowed by section 2604 of the United States
26 iInternal rRevenue cCode of 1986, as amended or renumbered, in respect to a
27 decedent's taxable estate.
28 (4) "Federal estate tax return" means any form or other document which
29 establishes, changes or amends a federal estate tax amount.
30 (5) "Gross estate" means "gross estate" as defined and used in section
31 2031 of the United States iInternal rRevenue cCode of 1986, as amended or
32 renumbered.
33 (6) "Internal Revenue Code of 1986" shall be as defined in section
34 63-3004, Idaho Code.
35 (7) "Nonresident" means a decedent who was domiciled outside Idaho at the
36 time of death.
37 (78) "Person" means any individual, estate, trust, receiver, cooperative
38 association, club, corporation, company, firm, partnership, joint venture,
39 syndicate, or other entity and, to the extent permitted by law, any federal,
40 state or other governmental unit or subdivision or agency, department or
41 instrumentality thereof.
2
1 (89) "Personal representative" means the executor or administrator of the
2 decedent or, if no executor or administrator is appointed, qualified and act-
3 ing, any person who has possession of any property.
4 (910) "Property" means property included in the gross estate.
5 (101) "Release" means a release of no tax due or a receipt for payment of
6 the tax due under this chapter.
7 (112) "Resident" means a decedent who was domiciled in Idaho at the time
8 of death.
9 (123) "Section 2011" means section 2011 of the United States iInternal
10 rRevenue cCode of 1986, as amended or renumbered.
11 (134) "Section 2032A" means section 2032A of the United States iInternal
12 rRevenue cCode of 1986, as amended or renumbered.
13 (145) "Section 6501" means section 6501 of the United States iInternal
14 rRevenue cCode of 1986, as amended or renumbered.
15 (156) "Taxable estate" means "taxable estate" as defined in section 2051
16 of the United States iInternal rRevenue cCode of 1986, as amended or renum-
17 bered.
18 (167) "Transfer" means "transfer" as defined and used in section 2001 of
19 the United States iInternal rRevenue cCode of 1986, as amended or renumbered.
20 SECTION 3. 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, 2002.
Reprint Reprint Reprint Reprint Reprint Reprint
STATEMENT OF PURPOSE
RS 11468C1
Section 1 is the annual Internal Revenue Code conformity
bill. This bill is to retain Idaho’s policy of conforming Idaho
Income Tax Act with the definition of federal taxable income.
Section 2 insures that for Idaho estate tax purposes,
amendments to the federal Internal Revenue Code by the “Economic
Growth and Tax Relief Reconciliation Act of 2001” (PL 107-16)
relating to the federal estate tax are also updated. This will
insure that the changes made to the federal estate tax (including
the phase-out of the credit for state death taxes) apply for the
Idaho tax.
FISCAL NOTE
Income tax in FY 2003 $3.1 Million
Contact
Name: Dan John / Ted Spangler
Agency: State Tax Commission
Phone: 334-7530
STATEMENT OF PURPOSE/FISCAL NOTE H 492