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 include the construction and renovation of school facilities. The bill also specifies the distribution of 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 school districts receive support equivalent to what they would have received through bond levy equalization support.

In Section 57-811, the bill creates a Tax Relief Fund to receive moneys from various sources, including federal grants and donations, intended to fund future tax relief statutes. It modifies the transfer process by stating that at the end of each fiscal year, 20% of annual distributions will be transferred to the Tax Relief Fund, along with an additional $50 million to the School District Facilities Fund. Furthermore, it mandates the transfer of $39 million to the state public defense fund and establishes a new transfer of $50 million to the homeowner property tax relief account. The bill also clarifies that after these transfers, the remaining balance of the Tax Relief Fund or a cap 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