ID H0042

State controller shall transfer $94,000,000 from the tax relief fund to the Idaho tax rebate fund immediately upon passage of the act.

For fiscal year 2022, $110,000,000 transfers from tax relief fund to general fund; for fiscal years 2023 and thereafter, up to $204,000,000 transfers annually to general fund.

For fiscal years 2024 and thereafter, an additional $32,000,000 transfers annually from tax relief fund to general fund; for fiscal years 2023-2024 only, an additional $34,000,000 transfers annually.

Sales taxes collected by out-of-state retailers and marketplace facilitators shall be distributed through the standard sales tax distribution formula in section 63-3638 beginning July 1, 2024, rather than going to the tax relief fund.

Beginning in fiscal year 2024, $330,000,000 annually distributes to public school income fund and $80,000,000 annually distributes to in-demand careers fund.

Act takes effect July 1, 2023 as an emergency measure.