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HOUSE BILL NO. 530

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Bill Status

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H0530..............................................................by TRAIL
INCOME TAX - DEDUCTIONS - Amends existing law to delete language regarding
a state income tax deduction for certain expenses of elementary and
secondary teachers.
                                                                        
01/22    House intro - 1st rdg - to printing
01/23    Rpt prt - to Rev/Tax

Bill Text

                                                                        
                                                                        
  ]]]]              LEGISLATURE OF THE STATE OF IDAHO             ]]]]
 Fifty-seventh Legislature                 Second Regular Session - 2004
                                                                        
                                                                        
                              IN THE HOUSE OF REPRESENTATIVES
                                                                        
                                     HOUSE BILL NO. 530
                                                                        
                                          BY TRAIL
                                                                        
  1                                        AN ACT
  2    RELATING TO INCOME TAXATION; AMENDING SECTION 63-3022O, IDAHO CODE, TO  DELETE
  3        LANGUAGE  REGARDING  A  STATE INCOME TAX DEDUCTION FOR CERTAIN EXPENSES OF
  4        ELEMENTARY AND SECONDARY TEACHERS; DECLARING AN  EMERGENCY  AND  PROVIDING
  5        RETROACTIVE APPLICATION.
                                                                        
  6    Be It Enacted by the Legislature of the State of Idaho:
                                                                        
  7        SECTION  1.  That Section 63-3022O, Idaho Code, be, and the same is hereby
  8    amended to read as follows:
                                                                        
  9        63-3022O.  ADJUSTMENT FOR PROPERTY ACQUIRED AFTER SEPTEMBER 10, 2001.  For
 10    taxable  years  commencing  on  and after January 1, 20013, in computing Idaho
 11    taxable income:
 12        (1)  The adjusted basis of depreciable property, depreciation and  capital
 13    gains and losses shall be computed without regard to subsection (k) of section
 14    168  of  the Internal Revenue Code, as amended by section 101 of the "Job Cre-
 15    ation and Worker Assistance Act of 2002."; and
 16        (2)  No deduction shall be allowed relating to expenses of elementary  and
 17    secondary teachers otherwise allowable under section 62(a)(2)(D) of the Inter-
 18    nal  Revenue  Code,  as amended by section 406 of the "Job Creation and Worker
 19    Assistance Act of 2002."
                                                                        
 20        SECTION 2.  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, 2003.

Statement of Purpose / Fiscal Impact

                       STATEMENT OF PURPOSE
                             RS 13621
There are approximately 14,000 public and private school teachers
who would be eligible for this tax credit.  These are teachers
who purchase school supplies out-of-pocket for classroom use. 
Data gathered from both teachers and superintendents from schools
indicates that many teachers spend about $200 or more dollars for
school supplies.  President Bush stated that teachers should be
treated as professionals and spearheaded legislation that allow
for a similar tax credit at the federal level.
                          FISCAL IMPACT
The fiscal impact to the General Fund is estimated at about
$250,000.


Contact
Name: Representative Tom Trail 
Phone: 332-1000




STATEMENT OF PURPOSE/FISCAL NOTE                      H 530