This bill amends Section 63-3004 of the Idaho Code, specifically revising the definition of the "Internal Revenue Code." The amendment changes the reference date for the Internal Revenue Code from January 1, 2024, to January 1, 2025. Additionally, it specifies that Internal Revenue Code section 85 will be applied as it was in effect on January 1, 2020.

The bill also declares an emergency, allowing it to take effect immediately upon passage and approval, with retroactive application to January 1, 2025. This means that the changes made by the bill will be applicable as if they were in effect from that earlier date.

Statutes affected:
Bill Text: 63-3004