STATEMENT OF PURPOSE
RS29125 / H0436
This 2022 Tax Relief bill makes the following changes to Idaho's income tax laws:
• It consolidates the income tax brackets from five brackets to four and lowers rates to 1%, 3%, 4.5% and
6% retroactive to January 1, 2022.
• It lowers the corporate income tax to 6% retroactive to January 1, 2022.
• It provides a one-time tax rebate of $350 million, returning approximately 12% of 2020 Idaho personal
income tax (line 20) or $75 for each taxpayer and dependant, whichever is greater.
FISCAL NOTE
This bill provides $350 million of tax relief through a one-time tax rebate in FY 2022 and $251 million in
on-going tax relief beginning in FY 2023 by lowering income tax brackets. These reductions are partially
offset by $94 million per year from the Tax Relief fund.
Contact:
Representative Steven C. Harris
Representative Mike Moyle
Senator Jim Rice
Senator Scott Grow
(208) 332-1000
DISCLAIMER: This statement of purpose and fiscal note are a mere attachment to this bill and prepared by a proponent
of the bill. It is neither intended as an expression of legislative intent nor intended for any use outside of the legislative
process, including judicial review (Joint Rule 18).
Statement of Purpose / Fiscal Note Bill SOP/FN INTRODUCED: 01/12/2022, 10:41 AM


Statutes affected:
Bill Text: 63-3024, 63-3024B, 63-3025, 57-811