TITLE 57

PUBLIC FUNDS IN GENERAL

CHAPTER 8

FUNDS CONSOLIDATION ACT

57-811.  TAX RELIEF FUND. (1) There is hereby created in the state treasury the tax relief fund to which shall be credited all moneys remitted from sections 63-3620F and 63-3638, Idaho Code, from federal grants, donations, or any other source. Moneys in the fund are intended to fund future tax relief statutes enacted by the legislature and may be expended pursuant to appropriation. All interest earned on the investment of idle moneys in the fund shall be returned to the fund.

(2)  For fiscal year 2025 and each fiscal year thereafter, twenty percent (20%) of the moneys in the tax relief fund is continuously appropriated and shall be transferred to the school district facilities fund established pursuant to section 33-911, Idaho Code.

(3)  For fiscal year 2025 and each fiscal year thereafter, the state controller shall transfer thirty-nine million dollars ($39,000,000) from the tax relief fund to the state public defense fund established pursuant to section 57-827, Idaho Code.

(4)  For fiscal year 2023 and each fiscal year thereafter, the state controller shall transfer the remaining balance of the fund or two hundred thirty-six million dollars ($236,000,000), whichever is less, from the tax relief fund to the general fund.

History:

[57-811, added 2023, ch. 200, sec. 8, p. 545; am. 2024, ch. 237, sec. 25, p. 834.]