Idaho Bills
6 bills · 2023 Regular Session
Amends existing law to update the definition of “Internal Revenue Code.”
Amends and adds to existing law to provide sales tax moneys to replace certain homeowner property taxes.
The purpose of this bill is to provide property tax relief to Idaho homeowners on their primary residence. The bill will dedicate 4.5% of annual sales tax revenues, providing a subtraction from each homeowner’s total property tax bill. For the year 2023, the amount of $150 million will be appropriated from FY 2023 General Fund surplus to begin this relief in the first year after passage of the bill.
Amends existing law to increase the distribution of cigarette and tobacco product taxes to the Central Cancer Registry Fund.
Thepurposeofthisbillistoincreasethemoneysdistributedtothecentralcancerregistryfundthroughrevenues received from the cigarette and tobacco product taxes. The funding to the central cancer registry fund that subsequently supports the Cancer Data Registry of Idaho has remained unchanged since 2013 while costs associated with the registry have increased.
34 – 1
Amends existing law to clarify provisions regarding deferral of property tax.
68 – 0
Amends existing law to revise the definition of “Internal Revenue Code.”
This bill relates to income taxes. It is the annual bill to update references to the Internal Revenue Code (IRC). The bill conforms the Idaho income tax code to changes made to the IRC that affect the 2022 tax year. The Idaho income tax code uses federal taxable income as a starting point for both businesses and individuals. Our tax forms use federal adjusted gross income as a starting point. Idaho uses a static conformity to a specific date, currently January 1, 2022. This bill updates Idaho Code section 63-3004, to January 1, 2023. Using federal taxableincomeasastartingpointsavesatremendousamountofduplicatework. TheIdahoLegislaturecanstill decide to which items it will conform to. Not conforming at all would cause a lot of extra work and confusion for individuals, businesses, and the tax preparation industry.
32 – 3
Amends existing law to revise provisions regarding the taxation of property of a qualifying business entity receiving the Idaho information technology equipment sales tax exemption in a revenue allocation area.
ThisisanamendmenttoIdahoCode63-3622VVenactedbythe2020IdahoLegislatureasHouseBill521which providesasalestaxexemptionfornewequipmentpurchasedbyqualifyingdatacenters. Itisalsoanamendment to the definition of “base assessment roll” found in Idaho Code 50-2903. These amendments provide that data centersthattakeadvantageofthesalestaxexemptionandarelocatedinanurbanrenewaldistrict,willhavetheir incremental property tax value included in the base assessment roll. If a data center does not take advantage of the sales tax exemption and is located in an urban renewal district, then the property data incremental value will be included in the urban renewal district. The bill provides for a mandatory communication of the exemption status to the county clerk by the fourth Monday in July so that the levy rate and property tax allocation can be timely set. It allows the Tax Commission to disclose this information. Enactment of this legislation fulfills the purpose of House Bill 521 which stated in its Statement of Purpose that “data centers significantly add to the property tax base wherever they are built…”