House Bill 505 Summary

• Amends Section 63-3638, Idaho Code, to revise the distribution formula for sales tax revenues collected by the state.

• Modifies subsection (14) to clarify that 2% of remaining moneys after subsections (1) through (13) are funded shall be distributed with 57% to the state highway account and 43% to local units of government for road planning, engineering, maintenance, and construction.

• Maintains all other existing distributions including $5,000,000 annually to the permanent building fund, $4,800,000 annually to the water pollution control account, and 11.5% to the revenue sharing account for cities, counties, and special purpose taxing districts.

• Effective date is July 1, 2015.