HOUSE BILL NO. 342

2008 Legislation

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HOUSE BILL NO. 342<br /> – Internal Revenue Code, reference

View Statement of Purpose / Fiscal Impact

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Bill Status


H0342...............................................by REVENUE AND TAXATION
INTERNAL REVENUE CODE - Amends existing law to update references to the
Internal Revenue Code for state income tax purposes.

01/16    House intro - 1st rdg - to printing
01/17    Rpt prt - to Rev/Tax
01/21    Rpt out - rec d/p - to 2nd rdg
01/22    2nd rdg - to 3rd rdg
01/23    3rd rdg - PASSED - 69-0-1
      AYES -- Anderson, Andrus, Barrett, Bayer, Bedke, Bell, Bilbao, Black,
      Block, Bock, Boe, Bolz, Bowers, Brackett, Bradford, Chadderdon,
      Chavez, Chew, Clark, Collins, Crane, Durst, Eskridge, Hagedorn, Hart,
      Harwood, Henbest, Henderson, Jaquet, Killen, King, Kren, Labrador,
      Lake, LeFavour, Loertscher, Luker, Marriott, Mathews, McGeachin,
      Mortimer, Moyle, Nielsen, Nonini, Pasley-Stuart, Pence, Raybould,
      Ringo, Roberts, Ruchti, Rusche, Sayler, Schaefer, Shepherd(02),
      Shepherd(08), Shirley, Shively, Smith(30), Smith(24), Snodgrass,
      Stevenson, Thayn, Thomas, Trail, Vander Woude, Wills, Wood(27),
      Wood(35), Mr. Speaker
      NAYS -- None
      Absent and excused -- Patrick
    Floor Sponsor - LeFavour
    Title apvd - to Senate
01/24    Senate intro - 1st rdg - to Loc Gov
01/30    Rpt out - rec d/p - to 2nd rdg
01/31    2nd rdg - to 3rd rdg
02/04    3rd rdg - PASSED - 34-0-1
      AYES -- Andreason, Bair, Bastian, Bilyeu, Broadsword, Burkett,
      Cameron, Coiner, Corder, Darrington, Davis, Fulcher, Gannon, Geddes,
      Goedde, Hammond, Heinrich, Hill, Jorgenson, Kelly, Keough, Langhorst,
      Little, Lodge, Malepeai(Sagness), McGee, McKague, McKenzie, Pearce,
      Richardson, Schroeder, Stegner, Stennett(Thorson), Werk
      NAYS -- None
      Absent and excused -- Siddoway
    Floor Sponsor - Hill
    Title apvd - to House
02/05    To enrol
02/06    Rpt enrol - Sp signed
02/07    Pres signed
02/08    To Governor
02/08    Governor signed
         Session Law Chapter 6
         Effective: 01/01/08

Bill Text




                                                                       
  ]]]]              LEGISLATURE OF THE STATE OF IDAHO             ]]]]
 Fifty-ninth Legislature                   Second Regular Session - 2008

                                                                       

                              IN THE HOUSE OF REPRESENTATIVES

                                     HOUSE BILL NO. 342

                             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; DECLARING AN EMERGENCY AND PROVIDING
  4        A RETROACTIVE EFFECTIVE DATE.

  5    Be It Enacted by the Legislature of the State of Idaho:

  6        SECTION 1.  That Section 63-3004, Idaho Code, be, and the same  is  hereby
  7    amended to read as follows:

  8        63-3004.  INTERNAL  REVENUE  CODE.  (a)  The  term "Internal Revenue Code"
  9    means the Internal Revenue Code of 1986 of the United States, as amended,  and
 10    in effect on the first day of January, 20078.
 11        (b)  Provisions  of  the  Internal Revenue Code amended, deleted, or added
 12    prior to the effective date of the latest amendment to this section  shall  be
 13    applicable  for  Idaho  income tax purposes on the effective date provided for
 14    such amendments, deletions, or additions, including retroactive provisions.

 15        SECTION 2.  An emergency existing  therefor,  which  emergency  is  hereby
 16    declared to exist, this act shall be in full force and effect on and after its
 17    passage and approval, and retroactively to January 1, 2008.

Statement of Purpose / Fiscal Impact



                   STATEMENT OF PURPOSE

                          RS 17384 

This is the annual bill to update references to the 
Internal Revenue Code (IRC).  The bill will conform the 
Idaho income tax to changes made to the IRC after January 
1, 2007, including “The Small Business and Work Opportunity 
Tax Act of 2007”


                        FISCAL NOTE

FY 2009:  -$200,000 



CONTACT
Name:	Ted Spangler/Dan John
Agency:	State Tax Commission
Phone:	(208) 334-7500


STATEMENT OF PURPOSE/FISCAL NOTE	            H 342