(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.
lawyer at desk

Ask a legal question, get an answer ASAP!
Click here to chat with a lawyer about your rights.

Terms Used In Idaho Code 57-811

  • Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
  • State: when applied to the different parts of the United States, includes the District of Columbia and the territories; and the words "United States" may include the District of Columbia and territories. See Idaho Code 73-114
(3)  For fiscal year 2024 and each fiscal year thereafter, the state controller shall transfer thirty-six million dollars ($36,000,000) 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.