Bill
Bill > H0251
ID H0251
ID H0251Amends existing law to revise provisions regarding the treatment of certain federal relief moneys when calculating Idaho taxable income.
summary
Introduced
02/25/2021
02/25/2021
In Committee
03/10/2021
03/10/2021
Crossed Over
03/02/2021
03/02/2021
Passed
03/18/2021
03/18/2021
Dead
Signed/Enacted/Adopted
03/19/2021
03/19/2021
Introduced Session
2021 Regular Session
Bill Summary
INCOME TAX -- Amends existing law to revise provisions regarding the treatment of certain federal relief moneys when calculating Idaho taxable income.
AI Summary
This bill amends existing law to revise provisions regarding the treatment of certain federal relief moneys when calculating Idaho taxable income. Specifically, the bill subtracts any amounts included in taxable income for funds received or loans forgiven under the Coronavirus Aid, Relief, and Economic Security (CARES) Act, the Paycheck Protection Program and Health Care Enhancement Act, and the Paycheck Protection Program Flexibility Act. Additionally, the bill adds any amounts excluded from taxable income for funds received under the Emergency Rental Assistance Program established by the Consolidated Appropriations Act of 2021. The bill has an emergency clause and is effective retroactively to January 1, 2021.
Committee Categories
Budget and Finance, Justice
Sponsors (0)
No sponsors listed
Other Sponsors (1)
Revenue and Taxation Committee (House)
Last Action
Reported Signed by Governor on March 18, 2021 Session Law Chapter 86 Effective: Retroactive to 01/01/2021 (on 03/19/2021)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://legislature.idaho.gov/sessioninfo/2021/legislation/H0251/ |
| BillText | https://legislature.idaho.gov/wp-content/uploads/sessioninfo/2021/legislation/H0251.pdf |
| Fiscal Note/Analysis - Statement of Purpose / Fiscal Note | https://legislature.idaho.gov/wp-content/uploads/sessioninfo/2021/legislation/H0251SOP.pdf |
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