Governor Brad Little signed House Bill 40, marking the largest tax cut in Idaho's history, which returns $253 million to residents through reduced income tax rates from 5.695% to 5.3%. The law also allows veterans to retain more of their military pensions and excludes capital gains and losses from precious metal bullion from state income tax calculations. The bill passed the Idaho State House with a 67-3 vote and the State Senate with a 27-8 vote.
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