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Idaho committee holds House Bill 74, introduces related RS to make $50M homeowner, school relief ongoing
Summary
The House Revenue and Taxation Committee held House Bill 74 and introduced RS 32,441, a sponsor-driven rewrite that would convert a $50 million one-time homeowner relief allocation into ongoing funding and add $50 million ongoing for the School Facilities Fund; the committee recommended RS 32,441 for second reading.
The Idaho House Revenue and Taxation Committee on Feb. 21 held House Bill 74 in committee and introduced a related revised statute, RS 32,441, with a recommendation that the RS be sent to the second-reading calendar.
Representative Jason Monks, R‑District 22, told the committee the two measures are tied: the draft RS would change a previously one‑time $50 million homeowner tax relief allocation to ongoing status while also adding $50 million ongoing to the School Facilities Fund, leaving the total new annual appropriation at about $100 million.
The legislation’s sponsor said the measures stem from the property tax framework created in House Bill 292 and aim to target relief to homeowners while preserving a fund that offsets school bonds and levies. "We used to have $50,000,000 that was ongoing to the school facilities fund and $50,000,000 1 time to the homeowners tax relief fund," Monks said, adding that the RS makes both portions ongoing and draws both from the same revenue source.
Why it matters: the School Facilities Fund flows to school bond and levy payments first and can produce a small remainder that districts may use for maintenance or other needs; Monks said the…
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