This bill establishes a new fund called the residential tax reduction fund, which will be administered by the Department of Revenue. The fund is intended to provide property tax relief for owner-occupied single-family dwellings, with the stipulation that interest earned on the fund's moneys will remain within the fund. Expenditures from this fund will be budgeted through the general appropriation bill.

Additionally, the bill amends existing laws regarding video lottery gaming. It increases the maximum amount that can be played on a video lottery machine from two dollars to five dollars and raises the limit on free games or credits awarded per bet to one thousand dollars. The state's share of net machine income from video lottery operations is set at fifty percent, with provisions for the allocation of funds. Specifically, any revenue exceeding one hundred sixty-five million dollars in a year will be directed to the newly established residential tax reduction fund.

Statutes affected:
Introduced, 02/04/2026: 42-7A-38, 42-7A-63