TallyIDAHOLegislative Tracker
H00402025 Regular Session✓ Signed into law

Amends existing law to exempt certain precious metals from capital gains tax, lower the income tax rate, and exempt certain military benefits from income taxation.

TAXATION -- Amends existing law to exempt certain precious metals from capital gains tax, lower the income tax rate, and exempt certain military benefits from income taxation.

TAXATION
IntroducedIn CommitteeFloor VoteEnacted

STATEMENT OF PURPOSE

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This legislation reduces state government’s income tax burden, allowing Idahoans to keep more of their own hard-earned money. First, it reduces Idaho’s flat income tax rate on individuals and corporations from 5.695% to 5.3%. Second, it expands Idaho’s income tax exemption on U.S. military pension income to include certain disabled veterans under age 62, all veterans aged 62-64, and undisabled veterans under age 62 who are also employed and earn sufficient income to owe federal income taxes. And third, it removes capital gains and losses for both precious metal bullion and monetized bullion from the calculation of state income taxes.

FISCAL NOTE

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The projected reductions in state General Fund revenue for FY 2026 are: Bullion capital gains/loses elimination: $1,000,000 Expand income tax exemption for military pensions: $12,000,000 Reduce flat individual and corporate income tax rate from 5.695% to 5.3%: $240,000,000 TOTAL: $253,000,000

SOP revised: 01/30/2025, 3:49 PM

HOW THEY VOTED

house Chamber· Feb 2, 2025

House Third Reading

✓ Passed
63 Yea
7 Nay
Passed by 56 votes
Republican
61 yea/0 nay
Democrat
2 yea/7 nay
Show all 70 voter names

YEA (63)

RBarbara EhardtHD-033ARBen FuhrimanHD-030BRBrandon MitchellHD-006BRBrent CraneHD-013ARBritt RaybouldHD-034BRBruce SkaugHD-010BRCharlie ShepherdHD-007BRChris BruceHD-023ARClay HandyHD-027BRClint HostetlerHD-024ARCornel RasorHD-001BRDale HawkinsHD-002BRDan GarnerHD-028BRDavid CannonHD-030ARDavid LeavittHD-025BRDori HealeyHD-015BRDouglas PickettHD-027ARDustin ManwaringHD-029ARElaine PriceHD-004BRFaye ThompsonHD-008BRHeather ScottHD-002ARJack NelsenHD-026BRJames HoltzclawHD-020BRJames PetzkeHD-021ARJaron CraneHD-012BRJason MonksHD-022BRJeff CornillesHD-012ARJeff EhlersHD-021BRJerald RaymondHD-031ARJoe AlfieriHD-004ARJoe PalmerHD-020ARJohn ShirtsHD-009ARJohn Vander WoudeHD-022ARJon WeberHD-034ARJordan RedmanHD-003BRJosh TannerHD-014BRJosh WheelerHD-035BRJudy BoyleHD-009BRKent MarmonHD-011ARKevin AndrusHD-035ARKyle HarrisHD-007ARLance ClowHD-025ARLori McCannHD-006ARLucas CaylerHD-011BRMarco EricksonHD-033BRMark SauterHD-001ARMike MoyleHD-010ARMike PohankaHD-026ARRichard CheatumHD-028ARRob BeiswengerHD-008ARRod FurnissHD-031BRRon MendiveHD-005ARShawn DygertHD-023BDSonia GalavizHD-016ARStephanie MickelsenHD-032ARSteve MillerHD-024BRSteve TannerHD-013BRTanya BurgoyneHD-029BRTed HillHD-014ADTodd AchillesHD-016BRTony WisniewskiHD-005BRVito BarbieriHD-003ARWendy HormanHD-032B
senate Chamber· Mar 3, 2025

Senate Third Reading

✓ Passed
27 Yea
8 Nay
Passed by 19 votes
Republican
27 yea/2 nay
Democrat
0 yea/6 nay
Show all 35 voter names

LATEST ACTION

Reported Signed by Governor on March 6, 2025 Session Law Chapter 13 Effective: Retroactive to 01/01/2025

BILL INFO

Session
2025
Chamber
house
Status date
Mar 7, 2025

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S1057Amends existing law to revise provisions regarding the Child Tax Credit to apply to preborn children.H0435Amends House Bill 40, House Bill 304, and existing law to revise provisions regarding certain tax deductions, certain corporate income tax rates, certain protections for taxpayers, and certain sales tax distributions and to revise an effective date.H0003Amends existing law to update references to the current Internal Revenue Code.H0260Amends and adds to existing law to exempt food from sales tax and to revise sales tax distributions.

DOCUMENTS

Bill Text (PDF) ↗Statement of Purpose (PDF) ↗

LINKS

View on Idaho Legislature ↗

SPONSORS

Mike Moyle

Mike Moyle

Rep · HD-010A

Primary
David Cannon

David Cannon

Rep · HD-030A

Doug Ricks

Doug Ricks

Sen · SD-034

Dori Healey

Dori Healey

Rep · HD-015B

Jason Monks

Jason Monks

Rep · HD-022B

Josh Tanner

Josh Tanner

Rep · HD-014B

Kelly Anthon

Kelly Anthon

Sen · SD-027

Vito Barbieri

Vito Barbieri

Rep · HD-003A

Lori Den Hartog

Lori Den Hartog

Sen · SD-022

Rob Beiswenger

Rob Beiswenger

Rep · HD-008A

Mark Harris

Mark Harris

Sen · SD-035

Chris Bruce

Chris Bruce

Rep · HD-023A

Ben Toews

Ben Toews

Sen · SD-004

Tanya Burgoyne

Tanya Burgoyne

Rep · HD-029B

Lucas Cayler

Lucas Cayler

Rep · HD-011B

Jaron Crane

Jaron Crane

Rep · HD-012B

Barbara Ehardt

Barbara Ehardt

Rep · HD-033A

Jeff Ehlers

Jeff Ehlers

Rep · HD-021B

Ted Hill

Ted Hill

Rep · HD-014A

James Holtzclaw

James Holtzclaw

Rep · HD-020B

R

Wendy Horman

Rep · HD-032B

Clint Hostetler

Clint Hostetler

Rep · HD-024A

David Leavitt

David Leavitt

Rep · HD-025B

Steve Miller

Steve Miller

Rep · HD-024B

Brandon Mitchell

Brandon Mitchell

Rep · HD-006B

Joe Palmer

Joe Palmer

Rep · HD-020A

Douglas Pickett

Douglas Pickett

Rep · HD-027A

Elaine Price

Elaine Price

Rep · HD-004B

Cornel Rasor

Cornel Rasor

Rep · HD-001B

Jordan Redman

Jordan Redman

Rep · HD-003B

Heather Scott

Heather Scott

Rep · HD-002A

John Shirts

John Shirts

Rep · HD-009A

Bruce Skaug

Bruce Skaug

Rep · HD-010B

John Vander Woude

John Vander Woude

Rep · HD-022A