2002 Legislation
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HOUSE BILL NO. 651 – Income tax, new jobs credit extnded

HOUSE BILL NO. 651

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Daily Data Tracking History



H0651...............................................by REVENUE AND TAXATION
INCOME TAX - Amends existing law to repeal the sunset dates from Chapter
386, Laws of 2001, relating to the new jobs credit for income tax purposes.
                                                                        
02/13    House intro - 1st rdg - to printing
02/14    Rpt prt - to Rev/Tax
02/22    Rpt out - rec d/p - to 2nd rdg
02/25    2nd rdg - to 3rd rdg
02/28    3rd rdg - PASSED - 55-11-4
      AYES -- Aikele, Barraclough, Barrett, Bedke, Bell, Black, Block,
      Bolz, Bradford, Callister, Campbell, Clark, Collins, Crow, Cuddy,
      Deal, Denney, Ellis, Ellsworth, Eskridge, Field(13), Field(20),
      Gagner, Gould, Hadley, Harwood, Hornbeck, Kendell, Kunz, Lake,
      Langford, Loertscher, Mader, McKague, Meyer, Montgomery, Mortensen,
      Moyle, Pearce, Pomeroy, Raybould, Ridinger, Roberts, Sali, Schaefer,
      Shepherd, Smith(33), Stevenson, Stone, Tilman, Trail, Wheeler, Wood,
      Young, Mr. Speaker
      NAYS -- Boe, Bruneel, Henbest, Higgins, Jaquet, Kellogg(Duncan),
      Martinez, Robison, Sellman, Smith(23), Smylie
      Absent and excused -- Bieter, Hammond, Jones, Pischner
    Floor Sponsors - Moyle
    Title apvd - to Senate
03/01    Senate intro - 1st rdg - to Loc Gov
03/07    Rpt out - rec d/p - to 2nd rdg
03/08    2nd rdg - to 3rd rdg
03/14    3rd rdg - FAILED - 17-18-0
      AYES -- Andreason, Brandt, Bunderson, Burtenshaw, Darrington, Deide,
      Frasure, Geddes, Goedde, Hawkins, Ingram, Richardson, Risch,
      Sorensen, Thorne, Wheeler, Williams
      NAYS -- Bartlett (Branch), Boatright, Cameron, Davis, Dunklin, Hill,
      Ipsen, Keough, King-Barrutia, Little, Lodge, Marley, Noh, Sandy,
      Schroeder, Sims, Stegner, Stennett
      Absent and excused -- None
    Floor Sponsor - Thorne
    To House
03/15    To Chief Clerk

Bill Text


                                                                        
                                                                        
  ||||              LEGISLATURE OF THE STATE OF IDAHO             ||||
 Fifty-sixth Legislature                  Second Regular Session - 2002
                                                                        
                                                                        
                              IN THE HOUSE OF REPRESENTATIVES
                                                                        
                                     HOUSE BILL NO. 651
                                                                        
                             BY REVENUE AND TAXATION COMMITTEE
                                                                        
  1                                        AN ACT
  2    RELATING TO REVENUE AND TAXATION AND THE NEW JOBS CREDIT FOR INCOME  TAXATION;
  3        REPEALING SECTIONS 13, 14 AND 15, CHAPTER 386, LAWS OF 2001; AMENDING SEC-
  4        TION  17,  CHAPTER  386, LAWS OF 2001, TO DELETE REFERENCE TO CERTAIN SEC-
  5        TIONS; DECLARING AN EMERGENCY AND PROVIDING RETROACTIVE APPLICATION.
                                                                        
  6    Be It Enacted by the Legislature of the State of Idaho:
                                                                        
  7        SECTION 1.  That Sections 13, 14 and 15, Chapter 386, Laws  of  2001,  be,
  8    and the same are hereby repealed.
                                                                        
  9        SECTION  2.  That  Section 17, Chapter 386, Laws of 2001, be, and the same
 10    is hereby amended to read as follows:
                                                                        
 11        SECTION 17.  An emergency existing therefor,  which  emergency  is  hereby
 12    declared  to  exist, Sections 1 through 12 and Section 16 of this act shall be
 13    in full force and effect on and after passage and approval, and  retroactively
 14    to  January 1, 2001. Sections 13, 14 and 15 of this act shall be in full force
 15    and effect on and after January 1, 2002.
                                                                        
 16        SECTION 3.  An emergency existing  therefor,  which  emergency  is  hereby
 17    declared to exist, this act shall be in full force and effect on and after its
 18    passage and approval, and retroactively to January 1, 2002.

Statement of Purpose / Fiscal Impact


                       STATEMENT OF PURPOSE

                             RS 11854

This bill would remove the one-year sunset provision from
the 2001 new jobs credit statute that permitted a $500
income tax credit for each "new job" created. The total of
this and all other credits shall not exceed 50% of the
taxpayers tax liability for the year the credit is allowed.
         
                          FISCAL IMPACT

Revenue neutral if no new jobs are created.

Contact
Name:  Representatives Crow and Moyle
Phone:  332-1000




STATEMENT OF PURPOSE/FISCAL NOTE                H 651