House Bill 220 Summary

• Allows taxpayers to claim a credit equal to 50% of charitable contributions made to qualifying nonprofits, including higher education institutions, K-12 schools, libraries, museums, and disability/historical organizations located in Idaho.

• For non-corporate taxpayers, the annual credit cannot exceed 50% of total income tax liability or $500, whichever is less; for corporations, the limit is 10% of total tax liability or $5,000, whichever is less.

• Revises the definition of "institution of higher learning" to require accreditation by the northwest commission on colleges and universities, and removes reference to the state board of education.

• Requires nonprofits that invest charitable contributions in endowments to comply with standards of care under Idaho Code section 33-5003.

• Sections 1-4 become effective retroactively to January 1, 2015; Section 5 becomes effective January 1, 2020, with an emergency declaration allowing immediate enactment upon passage and approval.