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ID HCR025
Concurrent Resolution
AI Summary
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Requests the Governor issue an Executive Order directing the State Tax Commission to keep the food tax credit under Section 63-3024A, Idaho Code unchanged for tax year 2011.
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Each $10 incremental increase in the tax credit results in approximately $15 million reduction to the general fund.
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Idaho faces a substantial General Fund budget shortfall for fiscal year 2012, making this an appropriate year to postpone any increase in the food tax credit.
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Applies to resident individuals who file Idaho income tax returns and claim the food tax credit against taxes due under the Idaho Income Tax Act.
Legislative Description
Stating findings of the Legislature and requesting that the Governor issue an Executive Order directing the State Tax Commission that the grocery tax credit allowed remain unchanged for tax year 2011.
GROCERY TAX CREDIT
Last Action
Delivered to Secretary of State on 03/31
4/1/2011