2005 Idaho Code - 63-3022J — DEDUCTION OF VALUE FOR TECHNOLOGICAL EQUIPMENT

                                  TITLE  63
                             REVENUE AND TAXATION
                                  CHAPTER 30
                                  INCOME TAX
    63-3022J.  DEDUCTION OF VALUE FOR TECHNOLOGICAL EQUIPMENT. (1) For taxable
years commencing on and after January 1, 1985, any individual or corporation
may deduct from taxable income an amount equal to the fair market value of
technological equipment donated to public elementary or public secondary
schools, public universities, private universities, public colleges, private
colleges, public community colleges, private community colleges, public
technical colleges or private technical colleges, or public libraries and
library districts located within the state of Idaho, except that the amount of
the deduction shall not reduce Idaho taxable income to less than zero. The
deduction allowed pursuant to this section shall be in addition to any other
deduction allowed pursuant to this chapter. In order to take the deduction
pursuant to this section, the taxpayer shall receive a written statement from
the donee in which the donee agrees to accept the technological equipment
donated.
    (2)  For the purposes of this section, "technological equipment" means a
computer, computer software, scientific equipment or apparatus to be used by
the university, college, community college, technical college, school or
library directly or indirectly in the education program of the university,
college, community college, technical college, school or library and which is
donated to the university, college, community college, technical college,
school or library no later than five (5) years after its manufacture has been
substantially completed.
    (3)  For the purposes of this section, a public elementary or public
secondary school means one that is located within this state and receives
funding pursuant to chapter 10, title 33, Idaho Code.
    (4)  For the purposes of this section, a public library or library
district means one that is located within this state and receives funding
pursuant to chapters 26 and 27, title 33, Idaho Code.
    (5)  For purposes of this section, a public university, public college,
public community college or public technical college means one that is located
within this state and receives an appropriation from the legislature.
    (6)  For purposes of this section, a private university, private college,
private community college or private technical college means one that is
located within this state and is operated on a nonprofit basis.
    (7)  The state tax commission shall promulgate rules to administer the
provisions of this section. The rules shall be promulgated in compliance with
chapter 52, title 67, Idaho Code.