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S1315.by LANGHORST, STENNETT, KELLY, WERK, BURKETT, BILYEU, SAGNESS, CORDER SALES TAX - INCOME TAX - Adds to existing law to provide for the expiration of income tax credits or deductions or sales tax exemptions unless extended by statute. 01/18 Senate intro - 1st rdg - to printing 01/21 Rpt prt - to Loc Gov
]]]] LEGISLATURE OF THE STATE OF IDAHO ]]]] Fifty-ninth Legislature Second Regular Session - 2008IN THE SENATE SENATE BILL NO. 1315 BY LANGHORST, STENNETT, KELLY, WERK, BURKETT, BILYEU, SAGNESS, CORDER 1 AN ACT 2 RELATING TO EXPIRATION OF INCOME TAX CREDITS OR DEDUCTIONS OR SALES TAX EXEMP- 3 TIONS; AMENDING CHAPTER 30, TITLE 63, IDAHO CODE, BY THE ADDITION OF A NEW 4 SECTION 63-3089, IDAHO CODE, TO PROVIDE FOR EXPIRATION OF INCOME TAX 5 DEDUCTIONS OR CREDITS UNLESS EXTENDED BY STATUTE AND TO PROVIDE FOR EXPI- 6 RATION OF EXTENDED OR NEWLY ENACTED DEDUCTIONS OR CREDITS; AMENDING CHAP- 7 TER 36, TITLE 63, IDAHO CODE, BY THE ADDITION OF A NEW SECTION 63-3642, 8 IDAHO CODE, TO PROVIDE FOR EXPIRATION OF SALES TAX EXEMPTIONS UNLESS 9 EXTENDED BY STATUTE AND TO PROVIDE FOR EXPIRATION OF EXTENDED OR NEWLY 10 ENACTED EXEMPTIONS. 11 Be It Enacted by the Legislature of the State of Idaho: 12 SECTION 1. That Chapter 30, Title 63, Idaho Code, be, and the same is 13 hereby amended by the addition thereto of a NEW SECTION, to be known and des- 14 ignated as Section 63-3089, Idaho Code, and to read as follows: 15 63-3089. EXPIRATION OF DEDUCTIONS AND CREDITS. Notwithstanding any other 16 provision of law to the contrary, all deductions and credits to the taxes 17 imposed by this chapter shall automatically expire on January 1, 2010, unless 18 a specific section is extended by statute. Extended sections in this chapter 19 granting a deduction or credit to the tax imposed by this chapter shall expire 20 five (5) years from the date of being extended by statute unless further 21 extended by statute for a period of not more than five (5) years. Any new 22 deduction or credit enacted after July 1, 2008, shall expire five (5) years 23 after its effective date, unless extended by statute. 24 SECTION 2. That Chapter 36, Title 63, Idaho Code, be, and the same is 25 hereby amended by the addition thereto of a NEW SECTION, to be known and des- 26 ignated as Section 63-3642, Idaho Code, and to read as follows: 27 63-3642. EXPIRATION OF EXEMPTIONS. Notwithstanding any other provision of 28 law to the contrary, all exemptions to the taxes imposed by this chapter shall 29 automatically expire on July 1, 2010, unless a specific section is extended by 30 statute. Extended sections in this chapter granting an exemption to the tax 31 imposed by this chapter shall expire five (5) years from the date of being 32 extended by statute unless further extended by statute for a period of not 33 more than five (5) years. Any new exemption enacted after July 1, 2008, shall 34 expire five (5) years after its effective date unless extended by statute.
STATEMENT OF PURPOSE
RS 17657
The purpose of this legislation is to implement a "zero-based tax
exemption" system which would apply to all Idaho statutory tax
credits, deductions, and exemptions. It provides for the
expiration of all such credits, deductions, and exemptions on a
periodic basis unless they are reauthorized by statute.
FISCAL IMPACT
The impact to the general fund would depend on which tax credits,
deductions, or exemptions are not authorized; to the extent that
any credits, deductions, or exemptions are not authorized, the
impact to the general fund would be positive.
Contact
Name: Sen. David Langhorst 332-1352 Sen. Tim Corder 332-1000
Sen. Clint Stennett
Sen. Kate Kelly
Sen. Elliot Werk
Sen. Diane Bilyeu
Sen. Mike Burkett
Sen. Dick Sagness
STATEMENT OF PURPOSE/FISCAL NOTE S 1315