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Staff briefing: sales tax distributions have reduced general fund share; Techum bond carve-outs and tax-relief fund cited
Summary
Legislative budget staff briefed JFAC on how statutory sales-tax distributions — including the tax-relief fund and Techum allocations — reduce the share of sales tax available to Idaho’s general fund.
Legislative budget staff told JFAC that statutory distributions have reduced the share of gross sales-tax collections routed to Idaho’s general fund and cautioned that new earmarks could further limit the revenues available to appropriate.
Keith Bybee, Division Manager for Budget Policy Analysis, walked members through the sales tax distribution formula in statute (63-36) and the components that reduce gross collections before the general fund receives a share: refunds, the tax-relief fund (receiving online-retail sales tax receipts), and a series of statutory earmarks and distributions to local governments and state…
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