Bill
Bill > H0332
ID H0332
ID H0332Amends existing law to revise provisions regarding income tax rates and the Tax Relief Fund and to provide for a onetime income tax rebate.
summary
Introduced
03/12/2021
03/12/2021
In Committee
04/22/2021
04/22/2021
Crossed Over
03/17/2021
03/17/2021
Passed
Dead
05/12/2021
05/12/2021
Introduced Session
2021 Regular Session
Bill Summary
INCOME TAXES -- Amends existing law to revise provisions regarding income tax rates and the Tax Relief Fund and to provide for a onetime income tax rebate.
AI Summary
This bill amends existing law to revise provisions regarding income tax rates and the Tax Relief Fund, and to provide for a one-time income tax rebate. Specifically, the bill changes the income tax rate structure, adjusts the Tax Relief Fund by transferring $110 million annually to the general fund, and provides a one-time income tax rebate of 9% of the 2019 tax amount or $50 per taxpayer and dependent, whichever is more, up to a total of $220 million. The bill also makes technical changes to the distribution of sales and use tax revenue collected by out-of-state retailers and marketplace facilitators.
Committee Categories
Budget and Finance, Justice
Sponsors (0)
No sponsors listed
Other Sponsors (1)
Revenue and Taxation Committee (House)
Last Action
Referred to Local Government & Taxation (on 04/22/2021)
Official Document
bill text
bill summary
Loading...
bill summary
Loading...
bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://legislature.idaho.gov/sessioninfo/2021/legislation/H0332/ |
| BillText | https://legislature.idaho.gov/wp-content/uploads/sessioninfo/2021/legislation/H0332.pdf |
| Fiscal Note/Analysis - Statement of Purpose / Fiscal Note | https://legislature.idaho.gov/wp-content/uploads/sessioninfo/2021/legislation/H0332SOP.pdf |
Loading...