HOUSE BILL NO. 343

2008 Legislation

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HOUSE BILL NO. 343<br /> – Tax, Permanent Bldg Fund, person

View Statement of Purpose / Fiscal Impact

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Bill Status


H0343...............................................by REVENUE AND TAXATION
INCOME TAX - PERMANENT BUILDING FUND - Amends existing law relating to the
additional tax required on income tax returns to be deposited in the
Permanent Building Fund to redefine "person."

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
01/24    3rd rdg - PASSED - 70-0-0
      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, Patrick, 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 -- None
    Floor Sponsor - Collins
    Title apvd - to Senate
01/25    Senate intro - 1st rdg - to Loc Gov
01/31    Rpt out - rec d/p - to 2nd rdg
02/01    2nd rdg - to 3rd rdg
02/05    3rd rdg - PASSED - 34-0-1
      AYES -- Andreason, Bair, Bastian, Bilyeu, Broadsword, Burkett,
      Cameron, Coiner, Corder, Darrington, Davis, Fulcher, Geddes, Goedde,
      Hammond, Heinrich, Hill, Jorgenson, Kelly, Keough, Langhorst, Little,
      Lodge, Malepeai(Sagness), McGee, McKague, McKenzie, Pearce,
      Richardson, Schroeder, Siddoway, Stegner, Stennett(Thorson), Werk
      NAYS -- None
      Absent and excused -- Gannon
    Floor Sponsor - McKenzie
    Title apvd - to House
02/06    To enrol
02/07    Rpt enrol - Sp signed
02/08    Pres signed
02/11    To Governor
02/13    Governor signed
         Session Law Chapter 8
         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. 343

                             BY REVENUE AND TAXATION COMMITTEE

  1                                        AN ACT
  2    RELATING TO THE TAX REMITTED TO THE PERMANENT BUILDING FUND; AMENDING  SECTION
  3        63-3083,  IDAHO  CODE,  TO REVISE THE DEFINITION OF "PERSON"; DECLARING AN
  4        EMERGENCY AND PROVIDING RETROACTIVE APPLICATION.

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

  6        SECTION 1.  That Section 63-3083, Idaho Code, be, and the same  is  hereby
  7    amended to read as follows:

  8        63-3083.  "PERSON"  DEFINED.  "Person"  as used in this act shall sections
  9    63-3082 through 63-3087, Idaho Code, means  any  corporation,  individual,  or
 10    estate,  trust,  or  tax  option corporation, entity required to file a return
 11    under section 63-3030, Idaho Code, unless all of  the income of which is  nei-
 12    ther  or loss is distributed nor or otherwise reportable as a part of the tax-
 13    able income of another taxpayer and the entity does not have any Idaho taxable
 14    income.

 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 17345

This bill updates the ten dollar Permanent Building Fund 
Tax that taxpayers pay with their Idaho income tax returns.  
It changes an obsolete reference to “tax option 
corporations” to the current “S Corporation” and clarifies 
when S Corporations, estates and trusts and other pass-
through entities are not required to pay the tax.  
	

                         FISCAL NOTE

No fiscal effect.





CONTACT
Name:    Ted Spangler/Dan John
Agency:  State Tax Commission 
Phone:   334-7530


STATEMENT OF PURPOSE/FISCAL NOTE			H 343