Bill
Bill > H0515
ID H0515
ID H0515Amends existing law to provide that the addition to taxable income for a nonqualifed withdrawal from a college savings plan is limited to contributions previously exempt from Idaho state income tax and earnings generated from the program as long as the earnings are not already included in federal adjusted gross income.
summary
Introduced
02/07/2018
02/07/2018
In Committee
03/02/2018
03/02/2018
Crossed Over
02/19/2018
02/19/2018
Passed
Dead
Signed/Enacted/Adopted
03/15/2018
03/15/2018
Introduced Session
2018 Regular Session
Bill Summary
INCOME TAXATION -- Amends existing law to provide that the addition to taxable income for a nonqualifed withdrawal from a college savings plan is limited to contributions previously exempt from Idaho state income tax and earnings generated from the program as long as the earnings are not already included in federal adjusted gross income.
AI Summary
This bill amends existing law to limit the addition to taxable income for a nonqualified withdrawal from a college savings plan. The addition is now limited to the contributions previously exempt from Idaho state income tax and the earnings generated from the program, as long as the earnings are not already included in the taxpayer's federal adjusted gross income.
Committee Categories
Budget and Finance
Sponsors (0)
No sponsors listed
Other Sponsors (1)
Revenue and Taxation Committee (House)
Last Action
Reported Signed by Governor on March 15, 2018 Session Law Chapter 109 Effective: 07/01/2018 (on 03/15/2018)
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/2018/legislation/H0515/ |
| BillText | https://legislature.idaho.gov/wp-content/uploads/sessioninfo/2018/legislation/H0515.pdf |
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