House Bill 213 Summary

• Amends Idaho Code Section 63-3022 to exclude certain federal relief moneys from Idaho taxable income calculations.

• Allows taxpayers to subtract amounts received as Idaho rebound cash grants for small businesses under the Coronavirus Aid, Relief, and Economic Security Act (P.L. 116-136).

• Allows taxpayers to subtract amounts of loans forgiven under the Paycheck Protection Program and Health Care Enhancement Act (P.L. 116-139) and the Paycheck Protection Program Flexibility Act of 2020 (P.L. 116-142), excluding forgiven economic injury disaster loans advance funds.

• Requires taxpayers to add back any amounts excluded from federal taxable income for Section 1106 CARES Act funds and economic injury disaster loans advance funds.

• Requires taxpayers to add back any amounts excluded from federal taxable income for funds received under the Emergency Rental Assistance Program (P.L. 116-260).

• Takes effect retroactively to January 1, 2021, and is declared an emergency measure.