Idaho Bills

Amends existing law to provide that capital gains and losses on precious metals bullion and monetized bullion sales be added to or subtracted from Idaho taxable income under certain circumstances.

The framers of our nation established that gold and silver are money, but federal taxing authorities in recent decades have required taxpayers to report nominal capital "gains" and "losses" when exchanging this form of money for Federal Reserve Notes. Idaho already exempts precious metals sales from the sales tax. This bill will exempt the sale of precious metals bullion from being subject to capital gains.

Amends existing law to provide an income tax credit for charitable contributions made to medical residency placement organizations accredited by the Accreditation Council for Graduate Medical Education or the American Osteopathic Organization based in Idaho and devoted to placing medical residency within Idaho.

This legislation provides an income tax credit for charitable contributions made to Idaho based medical residencyplacementorganizations, accreditedbytheAccreditationCouncilforGraduateMedicalEducation ortheAmericanOsteopathicOrganization. Residencyplacementprogramsareessentialtothefinalstagesof M.D. and D.O. educational processes, and residency placement programs enhance programs like WWAMI by encouraging doctors to stay in the state of Idaho.