House Votes To Double Donations Tax Credit

Fri., Feb. 27, 1998

From Staff And Wire Reports

If the Idaho Senate goes along with action in the House on Thursday, state taxpayers could get a $1 million tax break.

The House voted 49-15 to double a state income tax credit now given for contributions to educational and nonprofit organizations such as the colleges, state libraries and foundations. The measure goes to the Senate.

Sponsor Rep. Jim Clark, R-Hayden, noted that the tax credit was authorized in 1976 and hasn’t been raised since. Tax officials say taxpayers get about $1.2 million per year in tax breaks from the credit and the estimated cost would climb to just over $2 million if the credit were doubled.

Rep. Bob Geddes, R-Preston, chairman of House Appropriations, warned lawmakers that if the measure had been law now, the budget panel would have had to cut $1 million from public school support.

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House Votes To Double Donations Tax Credit

Jesse Tinsley

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