FOR IMMEDIATE RELEASE

Date: October 25, 2019 Contact: Mr. Chad Houck, Idaho Deputy Secretary of State Phone: (208) 332-2862 | Email: [email protected]

Boise, Idaho – Idaho Secretary of State Lawerence Denney announced proponents of a new initiative were cleared to begin collecting petition signatures.

The initiative may be circulated for signatures now that the official language is complete, and the Attorney General has forwarded the legal titles to the Secretary of State. The Attorney General’s official short and long ballot titles are as follows:

Short title: AN INITIATIVE AUGMENTING FUNDING FOR K-12 EDUCATION BY INCREASING THE INDIVIDUAL AND CORPORATE INCOME TAX RATES.

Long Title: AN INITIATIVE RELATING TO EDUCATION AND TAXATION; AMENDING TITLE 33, CHAPTER 9, IDAHO CODE WITH THE ADDITION OF A NEW SECTION CREATING A SUPPLEMENTAL FUND TITLED THE QUALITY EDUCATION FUND TO BE UTILIZED BY THE STATE BOARD OF EDUCATION FOR THE BETTERMENT OF K-12 PUBLIC SCHOOLS, PROVIDING THAT FUNDS BE DISTRIBUTED EACH YEAR BY AUGUST 31 TO SCHOOL DISTRICTS AND PUBLIC CHARTER SCHOOLS, AND DIRECTING THE STATE BOARD OF EDUCATION TO PROMULGATE IMPLEMENTING RULES; AMENDING TITLE 63, CHAPTER 30, IDAHO CODE BY MODIFYING THE SEVENTH INDIVIDUAL INCOME TAX BRACKET, CREATING AN EIGHTH BRACKET FOR TAXABLE INCOME IN EXCESS OF $250,000, TAXING INCOME IN THE EIGHTH BRACKET AT THE TAX RATE OF 9.925%, INCREASING THE CORPORATE INCOME TAX RATE TO 8%, AND DISTRIBUTING REVENUE COLLECTED AS A RESULT OF THE INCREASED RATES TO THE NEWLY CREATED QUALITY EDUCATION FUND; DECLARING THE ACT EFFECTIVE JANUARY 1, 2021 : AND PROVIDING FORSEVERABILITY

The Secretary of State’s tracking number for this measure is 11908.

The proponents of the measure must collect signatures of 55,057 registered voters (six percent of the qualified electors at the time of the November 2018 general election) in order to qualify it for the ballot. These signatures are also required to be distributed across at least 18 legislative districts with at least six percent of registered voters from each district. The proponents have until the April 30, 2020, deadline to circulate petitions for the measure, and signatures must be submitted to county elections officials no later than May 1, 2020.

Contact information for the proponents is as follows: Jeremy Gugino, on behalf of Reclaim Idaho (208) 514-7623

ABOUT LAWERENCE DENNEY

Lawerence Denney has served the people of Idaho since 1990. His public service began as a representative in District 13 and, following redistricting, then became a representative in District 9 until 2014. During this time, Denney served two terms as Majority Leader and three terms as Speaker of the House before successfully running for state office as Idaho’s Secretary of State. He is currently in the first year of his second term as Secretary of State.