ID H0386

Revises Section 63-3022 to modify how nonqualified withdrawals from Idaho college savings accounts established under chapter 54, title 33 are added to taxable income by changing the reference period from "the twelve (12) months preceding the transfer" to "the year of the transfer and the prior taxable year."

Amends Section 63-3029G to remove language restricting research activity credit eligibility to taxable years beginning in 2001 and after, allowing credits for research conducted in Idaho without specific year limitations.

Modifies Section 63-4403 to clarify that the additional income tax credit for capital investment (3.75%) is calculated on qualified investments made "during the project period, wherever located within this state" rather than during a single taxable year.

Establishes the act as an emergency measure with retroactive application to January 1, 2010.