ID H0606

Creates a new tax credit for taxpayers who invest in qualified agricultural commodity processing businesses incorporated in Idaho that process and market Idaho-grown agricultural commodities.

Provides a 30% income tax credit on the amount invested in qualified businesses during a taxable year, with a maximum aggregate credit of $500,000 per qualified business entity.

Limits credit claims to 50% of qualified investments in a single taxable year and 50% of the taxpayer's total tax liability, with unused credits carryable forward for up to 14 taxable years.

Requires the Department of Commerce director to certify qualified businesses and the Idaho Tax Commission to implement the program through administrative rules, with qualified businesses filing investment reporting forms within 30 days of purchase.

Makes the law effective retroactively to January 1, 2012 and expires December 31, 2017, except that the carryforward provision for unused credits remains in effect beyond the sunset date.