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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
|||| 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
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