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ID H0437
Bill
Status
2/6/2012
Primary Sponsor
Revenue and Taxation Committee
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AI Summary
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Adds "specialized needs recreation" to the list of qualified charitable organizations eligible for Idaho income tax credits under Section 63-3029C.
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Allows individual taxpayers to claim a credit equal to 50% of charitable contributions, capped at the lesser of 20% of total income tax liability or $100 per year.
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Allows corporate taxpayers to claim a credit equal to 50% of charitable contributions, capped at the lesser of 10% of total tax liability or $500 per year.
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Declares the act an emergency measure and applies it retroactively to January 1, 2012.
Legislative Description
Amends existing law to provide a state income tax credit for donations to specialized needs recreation.
INCOME TAX CREDITS
Last Action
to Loc Gov
2/7/2012