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ID H0342
Bill
Status
2/27/2025
Primary Sponsor
Revenue and Taxation Committee
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AI Summary
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Creates the "Choose Life Idaho Fund" in the state treasury, with moneys appropriated to Choose Life Idaho, Inc. to assist 501(c)(3) organizations providing counseling and care encouraging alternatives to abortion, and to fund public education promoting adoption
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Adds nonprofit pregnancy resource centers and maternity homes that provide "life-affirming counseling" and encourage alternatives to abortion to the list of organizations eligible for the 50% charitable contribution tax credit
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Increases the individual income tax credit limit from 20% to 35% of total tax liability (capped at $100), and corporate credit limit from 10% to 25% of tax liability (capped at $500)
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Allows taxpayers to designate income tax refunds or make additional donations to the Choose Life Idaho Fund through their tax returns, joining seven other existing trust accounts eligible for such designations
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Declares an emergency and applies retroactively to January 1, 2025
Legislative Description
Amends and adds to existing law to provide an income tax credit for certain nonprofit pregnancy centers, to increase the limit on the percentage of income taxpayers can claim on certain credits, and to establish the Choose Life Idaho Fund.
TAXATION
Last Action
Reported Printed and Referred to Revenue & Taxation
2/28/2025