Idaho Statutes

Idaho Statutes are updated to the web July 1 following the legislative session.

pecnv.out

TITLE 57
PUBLIC FUNDS IN GENERAL
CHAPTER 8
FUNDS CONSOLIDATION ACT
57-811.  TAX RELIEF fund. [EFFECTIVE UNTIL JULY 2, 2024] (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)  Immediately upon the passage of this act, the state controller shall transfer ninety-four million dollars ($94,000,000) from the tax relief fund to the Idaho tax rebate fund.
(3)  For fiscal year 2022, the state controller shall transfer one hundred ten million dollars ($110,000,000) from the tax relief fund to the general fund.
(4)  For fiscal year 2023 and each fiscal year thereafter, the state controller shall transfer up to two hundred four million dollars ($204,000,000) from the tax relief fund to the general fund.
[(5)](4)  In addition to any other transfers authorized under this section, for fiscal year 2024 and each fiscal year thereafter, the state controller shall transfer up to thirty-two million dollars ($32,000,000) from the tax relief fund to the general fund.
[(6)](4)  In addition to any other transfers authorized under this section, for fiscal years 2023 and 2024 only, the state controller shall transfer up to thirty-four million dollars ($34,000,000) from the tax relief fund to the general fund.
[(7)](5)  On July 1, 2024, any remaining moneys in the tax relief fund shall be distributed pursuant to the provisions of section 63-3638, Idaho Code.

History:
[57-811, added 2014, ch. 339, sec. 1, p. 854; am. 2019, ch. 320, sec. 5, p. 951; am. 2021, ch. 342, sec. 4, p. 1042; am. 2022, ch. 1, sec. 4, p. 5; am. 2022, ch. 268, sec. 2, p. 859; am. 2022, ch. 318, sec. 53, p. 1025.]


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