Amends existing law to increase the food tax credit, to provide an alternative tax credit for the actual amount paid by taxpayers on food purchases, and to provide for certain agreements to share information.
FOOD TAX CREDITS AND REFUNDS -- Amends existing law to increase the food tax credit, to provide an alternative tax credit for the actual amount paid by taxpayers on food purchases, and to provide for certain agreements to share information.
STATEMENT OF PURPOSE
Amends existing law to increase the food tax credit, to provide an alternative tax credit for the actual amount paid by taxpayers on food purchases, and to provide for certain agreements to share information. was introduced in the 2025 Idaho Legislative Session by . This bill is categorized under general legislation. View the full bill text and voting record on the Idaho Legislature website.
FISCAL NOTE
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This legislation will provide approximately $50 million in tax relief to Idahoans. This legislation will also reduce revenue to the General fund by approximately $50 million. Of the $50 million, $47 million will come from increasing the credit and approximately $3 million from individuals who claim the full refund by itemizing.
SOP revised: 02/11/2025, 1:07 PM
LATEST ACTION
Reported Printed and Referred to Revenue & Taxation
BILL INFO
- Session
- 2025
- Chamber
- house
- Status date
- Jan 27, 2025
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