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ID H0031
Bill
Status
2/16/2017
Primary Sponsor
Revenue and Taxation Committee
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AI Summary
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Excludes the nontaxable portion of Roth individual retirement account (IRA) distributions from the "income" definition used to determine property tax relief eligibility under Idaho Code Section 63-701.
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Modifies Section 63-701(5)(d) to specify that nontaxable Roth IRA distributions, as provided in 26 U.S.C. 408A, are not counted when calculating household income for property tax reduction benefits.
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Makes technical corrections to existing property tax relief provisions in Idaho Code Section 63-701.
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Declares an emergency and makes the changes retroactively effective to January 1, 2017.
Legislative Description
Amends existing law to exclude nontaxable Roth individual retirement account distributions from income calculation for the purposes of property tax relief eligibility.
PROPERTY TAX RELIEF
Last Action
Reported Signed by Governor on February 16, 2017 Session Law Chapter 14 Effective: Retroactive to 01/01/2017
2/16/2017