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ID H0512
Bill
AI Summary
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Allows individual taxpayers with refunds to designate up to $50 of their refund to the election campaign fund established under Idaho Code.
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Permits taxpayers with income tax liability to make an additional voluntary donation not exceeding $50 to the election campaign fund.
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Designations must be made when filing tax returns in a form prescribed by the state tax commission and must include a list of all qualifying political parties as of July 1 of the current tax year.
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State tax commission retains $3,000 from each account for first-year start-up costs and up to 20% of annual remittances (whichever is less) for ongoing collection and administration costs.
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Political parties receive distributed funds proportionally based on designated contributions and share of governor election votes, with distributions occurring on the Tuesday following the first Monday of August each year.
Legislative Description
Adds to existing law to provide designation by individuals of income tax refunds or to designate in addition to tax liability to the Election Campaign Fund, and to provide administrative procedures for use of moneys in the Election Campaign Fund.
INCOME TAX REFUND
Last Action
to Rev/Tax
2/11/2010