Bill > H0074

This bill provides property tax relief and makes several changes to how funds are allocated and transferred in Idaho's state budget. Specifically, the bill amends three sections of Idaho Code to modify the School District Facilities Fund, cash transfers for property tax relief, and the Tax Relief Fund. For fiscal years 2023-2025, the bill requires the state controller to transfer excess general fund cash balance, with $50 million going to the homeowner property tax relief account and the remaining amount split evenly between the school district facilities fund and the homeowner property tax relief account. In fiscal year 2025, an additional $50 million will be transferred from the bond levy equalization fund to the homeowner property tax relief account. The bill also adjusts how funds are transferred from the Tax Relief Fund, requiring transfers to the school district facilities fund and state public defense fund, with any remaining balance (up to $236 million) transferred to the general fund. For school districts, the bill ensures continued funding for facilities, bonds, and maintenance, with a specific provision to support districts with existing bond levies. The bill declares an emergency, meaning it will take effect immediately upon passage and approval.

Budget and Finance

Revenue and Taxation Committee (H)

https://legislature.idaho.gov/sessioninfo/2025/legislation/H0074/