Bill > H0690

This bill adds to existing law to establish the County and City Property Tax Relief Fund from general funds. The fund is intended to offset property tax increases for county and city governments, with 50% of the funds distributed to counties and 50% distributed to cities based on their 2021 approved property tax budgets. The funds are continuously appropriated and must be used for property tax relief, with cities and counties encouraged to use the funds to pay off any bonded indebtedness. The bill also provides for the transfer of up to $80 million from the general fund excess cash balance to the County and City Property Tax Relief Fund each year, and specifies that the provisions of the bill will be null and void after July 1, 2026.

Budget and Finance

Revenue and Taxation Committee (H)

https://legislature.idaho.gov/sessioninfo/2022/legislation/H0690/