This bill amends two sections of the Idaho Code, specifically Section 33-911 regarding the School District Facilities Fund and Section 57-811 concerning the Tax Relief Fund. The amendments to Section 33-911 establish that moneys in the School District Facilities Fund are continuously appropriated for the purposes outlined in the section, which includes funding for the construction and renovation of school facilities. The bill also specifies the distribution of these funds to school districts based on average daily attendance and outlines the priority for fund usage, including payments for existing school bonds and supplemental levies. Additionally, it introduces provisions for fiscal years 2025 and 2026 to ensure that certain school districts receive distributions equivalent to what they would have received through bond levy equalization support.

In Section 57-811, the bill creates a Tax Relief Fund and modifies the transfer process of funds to ensure that at the end of each fiscal year, 20% of annual distributions, along with $50 million, will be transferred to the School District Facilities Fund. It also mandates the transfer of $39 million to the state public defense fund and $50 million to the homeowner property tax relief account. The bill further stipulates that after these transfers, the remaining balance of the Tax Relief Fund or a maximum of $236 million will be transferred to the general fund. An emergency clause is included, allowing the act to take effect immediately upon passage and approval.

Statutes affected:
Bill Text: 33-911, 57-811