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) On July 15, 2021, the state controller shall transfer one hundred eighty million dollars ($180,000,000) from the tax relief fund to the 2021 Idaho tax rebate fund.
(3) For fiscal year 2022 and each fiscal year thereafter, the state controller shall transfer one hundred ten million dollars ($110,000,000) from the tax relief fund to the general fund.
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.]