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H0661...............................................by REVENUE AND TAXATION
CORPORATE HEADQUARTERS INCENTIVE ACT - Repeals and amends existing law to
delete the Corporate Headquarters Incentive Act of 2005; and to delete
certain rebate payments from the State Refund Account.
03/17 House intro - 1st rdg - to printing
03/18 Rpt prt - to Rev/Tax
03/19 Rpt out - rec d/p - to 2nd rdg
03/20 2nd rdg - to 3rd rdg
03/21 3rd rdg - PASSED - 64-3-3
AYES -- Andrus, Barrett, Bayer, Bedke, Bell, Bilbao, Black, Block,
Bock, Boe, Bolz, Brackett, Bradford, Chadderdon, Chavez, Chew, Clark,
Collins, Crane, Durst, Eskridge, Hagedorn, Hart, Harwood, Henbest,
Henderson, Jaquet, Killen, Kren, Labrador, Lake, LeFavour,
Loertscher, Luker, Marriott, Mathews, McGeachin, Mortimer, Moyle,
Nielsen, Nonini, Pasley-Stuart, Patrick, Pence, Raybould, Ringo,
Roberts, Sayler, Schaefer, Shepherd(02), Shepherd(08), Shirley,
Shively, Smith(30), Smith(24), Stevenson, Thayn, Thomas, Trail,
Vander Woude, Wills, Wood(27), Wood(35), Mr. Speaker
NAYS -- Bowers, King, Snodgrass
Absent and excused -- Anderson, Ruchti, Rusche
Floor Sponsor - Lake
Title apvd - to Senate
03/24 Senate intro - 1st rdg - to Loc Gov
03/25 Rpt out - rec d/p - to 2nd rdg
03/26 2nd rdg - to 3rd rdg
Rls susp - PASSED - 25-10-0
AYES -- Andreason, Bair, Bastian, Bilyeu, Burkett, Cameron, Corder,
Darrington, Fulcher, Gannon(Gannon), Geddes, Goedde, Heinrich, Hill,
Keough, Little, Lodge, McKenzie, Pearce, Richardson, Schroeder,
Siddoway, Stegner, Stennett, Werk
NAYS -- Broadsword, Coiner, Davis, Hammond, Jorgenson, Kelly,
Langhorst, Malepeai(Sagness), McGee, McKague
Absent and excused -- None
Floor Sponsor - Corder
Title apvd - to House
03/28 To enrol - Rpt enrol - Sp signed
03/31 Pres signed
04/01 To Governor
04/09 Governor signed
Session Law Chapter 390
Effective: 07/01/08
]]]] LEGISLATURE OF THE STATE OF IDAHO ]]]] Fifty-ninth Legislature Second Regular Session - 2008IN THE HOUSE OF REPRESENTATIVES HOUSE BILL NO. 661 BY REVENUE AND TAXATION COMMITTEE 1 AN ACT 2 RELATING TO THE CORPORATE HEADQUARTERS INCENTIVE ACT OF 2005; REPEALING CHAP- 3 TER 29, TITLE 63, IDAHO CODE, RELATING TO THE IDAHO CORPORATE HEADQUARTERS 4 INCENTIVE ACT OF 2005; AMENDING SECTION 63-3067, IDAHO CODE, TO DELETE 5 CERTAIN REBATE PAYMENTS FROM THE STATE REFUND ACCOUNT; AMENDING SECTION 6 63-4401, IDAHO CODE, TO DELETE APPLICATION AND CODE REFERENCES; AND AMEND- 7 ING SECTION 63-4406, IDAHO CODE, TO DELETE A CODE REFERENCE. 8 Be It Enacted by the Legislature of the State of Idaho: 9 SECTION 1. That Chapter 29, Title 63, Idaho Code, be, and the same is 10 hereby repealed. 11 SECTION 2. That Section 63-3067, Idaho Code, be, and the same is hereby 12 amended to read as follows: 13 63-3067. REVENUE RECEIVED -- STATE REFUND ACCOUNT. (1) A sum equal to the 14 amount withheld under section 63-3035A, Idaho Code, shall be distributed fifty 15 percent (50%) to the public school income fund to be utilized to facilitate 16 and provide substance abuse programs in the public school system, and fifty 17 percent (50%) shall be distributed to the counties to be utilized for county 18 juvenile probation services. These funds shall be distributed quarterly to the 19 counties based upon the percentage the population of the county bears to the 20 population of the state as a whole. 21 (2) All moneys except as provided in subsection (1) of this section, and 22 except as hereinafter provided, received by the state of Idaho under this act 23 shall be deposited by the state tax commission, as received by it, with the 24 state treasurer and shall be placed in and become a part of the general 25 account under the custody of the state treasurer. Providing however, 26(a)that an amount equal to twenty percent (20%) of the amount deposited 27 with the state treasurer shall be placed in the "state refund account" 28 which is hereby created for the purpose of repaying overpayments, for the 29 purpose of remitting to counties and taxing districts for personal prop- 30 erty exempt from taxation pursuant to section 63-602EE, Idaho Code, as 31 provided in subsection (3) of this section, for the purpose of depositing 32 in the trust accounts specified in section 63-3067A, Idaho Code, such 33 amounts as may be designated by individuals for the purpose of depositing 34 in the Idaho ag in the classroom account an amount as may be designated by 35 the individual receiving a refund for such overpayment, and for the pur- 36 pose of paying any other erroneous receipts illegally assessed or col- 37 lected, penalties collected without authority and taxes and licenses 38 unjustly assessed, collected or which are excessive in amount. Whenever 39 necessary for the purpose of making prompt payment of refunds, the board 40 of examiners, upon request from the state tax commission, and after 41 review, may authorize the state tax commission to transfer any additional 42 specific amount from income tax collections to the "state refund account." 2 1 There is appropriated out of the state refund account so much thereof as 2 may be necessary for the payment of the refunds herein provided. Claims 3 for, and payment of refunds under the provisions of this section shall be 4 made in the same manner as other claims against the state of Idaho;5(b) an amount equal to any amount required to be rebated under section663-2909, Idaho Code, is continuously appropriated for the purpose of pay-7ing any such rebate. 8 (3) Any unencumbered balance remaining in the state refund account on 9 June 30 of each and every year in excess of the sum of one million five hun- 10 dred thousand dollars ($1,500,000) shall be transferred to the general fund 11 and the state controller is hereby authorized and directed on such dates to 12 make such transfers unless the board of examiners, which is hereby authorized 13 to do so, changes the date of transfer or sum to be transferred. 14 SECTION 3. That Section 63-4401, Idaho Code, be, and the same is hereby 15 amended to read as follows: 16 63-4401. SHORT TITLE.-- APPLICATION.This chapter shall be known and may 17 be cited as "The Idaho Small Employer Incentive Act of 2005."No provision of18this chapter applies to a person, taxpayer, or other entity entitled to,19applying for, or receiving any credit, rebate or other benefit under chapter2029, 39 or 43, title 63, Idaho Code.21 SECTION 4. That Section 63-4406, Idaho Code, be, and the same is hereby 22 amended to read as follows: 23 63-4406. LIMITATIONS, AND OTHER PROVISIONS ON CREDITS AGAINST INCOME 24 TAXES. (1) In addition to other needed rules, the state tax commission may 25 promulgate rules prescribing: 26 (a) In the case of S corporations, partnerships, trusts or estates, a 27 method of attributing a credit under this chapter to the shareholders, 28 partners or beneficiaries in proportion to their share of the income from 29 the S corporation, partnership, trust or estate; and 30 (b) The method by which the carryover of credits and the duty to recap- 31 ture credits shall survive and be transferred in the event of reorganiza- 32 tions, mergers or liquidations. 33 (2) In the case of a unitary group of corporations filing a combined 34 report under subsection (t) of section 63-3027, Idaho Code, credits against 35 income tax provided by sections 63-4403, 63-4404 and 63-4405, Idaho Code, 36 earned by one (1) member of the group but not used by that member may be used 37 by another member of the group, subject to the limitation in subsection (3) of 38 this section, instead of carried over. For a combined group of corporations, 39 credit carried forward may be claimed by any member of the group unless the 40 member or members who earned the credit are no longer included in the combined 41 group. 42 (3) The total of all credits allowed by sections 63-4403, 63-4404 and 43 63-4405, Idaho Code, together with any credits carried forward under subsec- 44 tion (4) of this section shall not exceed the amount of tax due under sections 45 63-3024, 63-3025 and 63-3025A, Idaho Code, after allowance for all other cre- 46 dits permitted by this chapter, chapter 29, title 63, Idaho Code,and the 47 Idaho income tax act. 48 (4) If the credits exceed the limitation under subsection (3) of this 49 section, the excess amount may be carried forward for a period that does not 50 exceed: 51 (a) The next fourteen (14) taxable years in the case of credits allowed 3 1 by sections 63-4403 and 63-4404, Idaho Code; or 2 (b) The next ten (10) taxable years in the case of credits allowed by 3 section 63-4405, Idaho Code.
STATEMENT OF PURPOSE
RS 17561
The purpose of this legislation is to repeal Title 63,
Chapter 29 of Idaho Code dealing with the Corporate Headquarters
Incentive Act of 2005. Specifically, definitions (63-2902),
income tax credit for capital investments (63-2903), tax credits
for real property improvements (63-2904), additional income tax
credits for new jobs (63-2905), credits against income taxes (63-
2906), recapture of tax credits (63-2907), sales and use tax
incentives (63-2908), and property tax incentives (63-2909).
FISCAL NOTE
None to the general fund since the Corporate Headquarters
Incentive Act of 2005 has not been used.
Contact
Name: Representative Lake
Phone: 208.332.1000
STATEMENT OF PURPOSE/FISCAL NOTE H 661