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ID H0593
Bill
Status
4/4/2014
Primary Sponsor
Revenue and Taxation Committee
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AI Summary
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Creates a Tax Relief Fund in the state treasury to be funded by sales tax moneys from out-of-state retailers not engaged in business in Idaho, federal grants, donations, and other sources.
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Directs the State Tax Commission to distribute to the Tax Relief Fund amounts collected from purchasers and paid by retailers not engaged in business in Idaho, less amounts already distributed under other subsections of sales tax distribution law.
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Permits the Tax Relief Fund to be expended only pursuant to legislative appropriation for future tax relief statutes enacted by the legislature.
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Provides that all interest earned on investment of idle moneys in the Tax Relief Fund shall be returned to the fund.
Legislative Description
Amends and adds to existing law to create the Tax Relief Fund and to provide for the remittance of certain sales tax moneys to the Tax Relief Fund by the State Tax Commission.
SALES TAX
Last Action
Reported Signed by Governor on April 4, 2014 Session Law Chapter 339 Effective: 07/01/2014
4/4/2014