House Bill 494 Summary

• Increases the food tax credit from $100 to $135 per person for tax year 2020 and thereafter for Idaho resident individuals filing tax returns.

• Establishes a continuous appropriation of $35 per food tax credit and refund to be distributed from the Tax Relief Fund to the state refund account by the state tax commission.

• Allows the state tax commission and Idaho Department of Correction to exchange information regarding incarceration status to prevent erroneously claimed food tax credits by incarcerated individuals.

• Permits the state tax commission and Idaho Department of Health and Welfare to exchange information regarding federal food stamp benefits to prevent erroneously claimed food tax credits by individuals receiving food stamp assistance.

• Makes Sections 2, 3, and 4 effective retroactively to January 1, 2020, while Section 1 becomes effective January 1, 2021.