2005 Legislation
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HOUSE BILL NO. 354 – Childrens trust fund checkoff

HOUSE BILL NO. 354

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Bill Status



H0354...............................................by REVENUE AND TAXATION
CHILDREN'S TRUST FUND - Amends existing law to clarify that the checkoff
for the Children's Trust Fund on the Idaho income tax form shall expire
when the balance in the trust fund reaches two million five hundred
thousand dollars.
                                                                        
03/17    House intro - 1st rdg - to printing
03/18    Rpt prt - to 2nd rdg
03/21    2nd rdg - to 3rd rdg
    Rls susp - PASSED - 66-0-4
      AYES -- Anderson, Andrus, Barraclough, Barrett, Bastian, Bayer,
      Bedke, Bell, Bilbao, Block, Boe, Bolz, Bradford, Cannon, Chadderdon,
      Clark, Collins, Crow, Deal, Denney, Edmunson(Barker), Ellsworth,
      Field(18), Field(23), Garrett, Hart, Henbest, Henderson, Jaquet,
      Jones, Kemp, Lake, LeFavour, Loertscher, Martinez, Mathews,
      McGeachin, McKague, Miller, Mitchell, Moyle, Nielsen, Nonini,
      Pasley-Stuart, Pence, Raybould, Ringo, Roberts, Rusche, Rydalch,
      Sali, Sayler, Schaefer, Shepherd(2), Shepherd(8), Shirley, Skippen,
      Smith(30), Smith(24), Smylie, Snodgrass, Stevenson, Trail, Wills,
      Wood, Mr. Speaker
      NAYS -- None
      Absent and excused -- Black, Eskridge, Harwood, Ring
    Floor Sponsor - Roberts
    Title apvd - to Senate
03/22    Senate intro - 1st rdg - to Loc Gov
03/24    Rpt out - rec d/p - to 2nd rdg
03/25    2nd rdg - to 3rd rdg
03/29    3rd rdg - PASSED - 35-0-0
      AYES -- Andreason, Brandt, Broadsword, Bunderson, Burkett,
      Burtenshaw, Cameron, Coiner, Compton, Corder, Darrington, Davis,
      Fulcher, Gannon, Geddes, Goedde, Hill, Jorgenson, Kelly, Keough,
      Langhorst, Little, Lodge, Malepeai, Marley, McGee, McKenzie, Pearce,
      Richardson, Schroeder, Stegner, Stennett, Sweet, Werk, Williams
      NAYS -- None
      Absent and excused -- None
    Floor Sponsor - McKenzie
    Title apvd - to House
03/30    To enrol
03/31    Rpt enrol - Sp signed - Pres signed
04/04    To Governor
04/11    Governor signed
         Session Law Chapter 342
         Effective: 07/01/05

Bill Text


                                                                        
                                                                        
  ||||              LEGISLATURE OF THE STATE OF IDAHO             ||||
 Fifty-eighth Legislature                   First Regular Session - 2005
                                                                        
                                                                        
                              IN THE HOUSE OF REPRESENTATIVES
                                                                        
                                     HOUSE BILL NO. 354
                                                                        
                             BY REVENUE AND TAXATION COMMITTEE
                                                                        
  1                                        AN ACT
  2    RELATING TO THE CHILDREN'S TRUST FUND; AMENDING SECTION 39-6007,  IDAHO  CODE,
  3        TO  CLARIFY  THAT THE CHECK-OFF EXPIRES WHEN THE BALANCE IN THE TRUST FUND
  4        REACHES TWO MILLION FIVE HUNDRED THOUSAND DOLLARS.
                                                                        
  5    Be It Enacted by the Legislature of the State of Idaho:
                                                                        
  6        SECTION 1.  That Section 39-6007, Idaho Code, be, and the same  is  hereby
  7    amended to read as follows:
                                                                        
  8        39-6007.  CHILDREN'S  TRUST  FUND -- CREATION. (1) There is hereby created
  9    in the state treasury the children's trust fund.
 10        (2)  The fund shall consist of:
 11        (a)  Moneys appropriated to the fund;
 12        (b)  Moneys as provided in section 63-3067A, Idaho Code;
 13        (c)  Donations, gifts and grants from any source; and
 14        (d)  Any other moneys which may hereafter be provided by law.
 15        (3)  Moneys in the fund may be expended  for  purposes  provided  in  this
 16    chapter,  provided that the children's trust fund advisory board is authorized
 17    to expend up to fifty percent (50%) of the moneys generated annually  pursuant
 18    to  section  63-3067A,  Idaho  Code. Interest earned on the investment of idle
 19    money in the children's trust fund shall be returned to the  children's  trust
 20    fund.
 21        (4)  Disbursements  of  moneys from the fund shall be on the authorization
 22    of the children's trust fund board or a duly authorized representative of  the
 23    board.
 24        (5)  After a total of the balance in the children's trust fund has reached
 25    two  million  five hundred thousand dollars ($2,500,000), has been distributed
 26    to the children's trust fund, no further collections shall be received by  the
 27    tax  commission,  and  all references to the fund shall be deleted from income
 28    tax forms.

Statement of Purpose / Fiscal Impact



                      STATEMENT OF PURPOSE

                            RS 15142

The proposed change amends ambiguous language in Idaho Code 39-
6007(5) making language clearly consistent with original
legislative intent. This amendment clarifies the sunset
provisions of the tax check-off found in the Children's Trust
Fund statute to state that the check-off expires when the balance
in the trust fund reaches two million five hundred thousand
dollars.
  
                          FISCAL NOTE

There is no fiscal impact resulting from the proposed change to
the existing statute.         


     

    
CONTACT
Name:     Nancy Hausner
Agency:   Health and Welfare 
Phone:    386-9317


STATEMENT OF PURPOSE/FISCAL NOTE                        H 354