ID H0051

Creates a new income tax credit equal to 30% of amounts invested in qualified agricultural commodity processing businesses in Idaho.

Defines "qualified business" as a company licensed to process and market Idaho agricultural commodities, compliant with state securities laws, that creates additional jobs and increases agricultural commodity usage.

Limits the aggregate tax credit per qualified business to $500,000, with taxpayers able to claim no more than 50% of their credit in any single taxable year and no more than 50% of their tax liability.

Allows unused credits to be carried forward for up to 14 taxable years, requires investments be held for at least 3 years, and mandates qualified businesses file investment documentation with the state tax commission within 30 days of purchase.

Applies retroactively to January 1, 2013 and expires on December 31, 2018, except the carryforward provision remains in effect beyond the sunset date.