Question 1

What is HB 40?

Accepted Answer

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.. Reduces Idaho's flat income tax rate from 5.

Question 2

What is the current status of HB 40?

Accepted Answer

The current status of HB 40 is: Governor Signed.

Question 3

Who sponsored HB 40?

Accepted Answer

HB 40 was sponsored by REVENUE AND TAXATION COMMITTEE, LEGISLATURE OF THE STATE OF IDAHO, Sixty-eighth Legislature First Regular Session - 2025, Legislative Co-sponsors, RS32013 / H0040, Senator Ricks Representative Healey, Senator Anthon Representative Barbieri, Senator Den Hartog Representative Beiswenger, Senator Harris Representative Bruce, Senator Toews Representative Burgoyne, Representative Cannon, Representative Cayler, Representative Crane(12B), Representative Ehardt, Representative Ehlers, Representative Hill, Representative Holtzclaw, Representative Horman, Representative Hostetler, Representative Leavitt, Representative Miller, Representative Mitchell, Representative Monks, Representative Moyle, Representative Palmer, Representative Pickett, Representative Price, Representative Rasor, Representative Redman, Representative Scott, Representative Shirts, Representative Skaug, Representative Tanner(14B), Representative Vander Woude, H 40.

Question 4

When was HB 40 introduced?

Accepted Answer

HB 40 was introduced on January 23, 2025.

Question 5

Which chamber is HB 40 in?

Accepted Answer

HB 40 originated in the Idaho House.

HB 40: 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.

Status

Sponsors

Committees

Bill history