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ID H0251
Bill
Status
3/19/2021
Primary Sponsor
Revenue and Taxation Committee
Click for details
AI Summary
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Subtract from taxable income any amounts included for funds received or loans forgiven under the Coronavirus Aid, Relief, and Economic Security Act (P.L. 116-136)
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Subtract from taxable income any amounts included for loans forgiven under the Paycheck Protection Program and Health Care Enhancement Act (P.L. 116-139), including economic injury disaster loan advance funds and the Paycheck Protection Program Flexibility Act of 2020 (P.L. 116-142)
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Add back to taxable income any amounts excluded from federal taxation for funds received pursuant to the Emergency Rental Assistance Program established by Section 501 of Division N of the Consolidated Appropriations Act, 2021 (P.L. 116-260)
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Declare an emergency and make the provisions retroactively applicable to January 1, 2021
Legislative Description
Amends existing law to revise provisions regarding the treatment of certain federal relief moneys when calculating Idaho taxable income.
INCOME TAX
Last Action
Reported Signed by Governor on March 18, 2021 Session Law Chapter 86 Effective: Retroactive to 01/01/2021
3/19/2021