ID H0077

Establishes a new homeowner property tax relief program (section 63-724) providing sales tax funding to reduce property taxes on owner-occupied homes with homestead exemptions, effective the second Monday in July each year.

Excludes bonds, school district levies, plant facility levies, voter-approved temporary levies, and property value exceeding one acre from eligible property tax relief calculations.

Requires county assessors to certify homeowner property tax relief rolls by the fourth Monday of August annually, with the state tax commission distributing appropriated moneys by dividing available funds by total eligible property taxes statewide, then allocating proportionally to each county.

Dedicates 4.5% of sales and use tax revenues beginning fiscal year 2024 to a homeowner property tax relief account, with the state tax commission paying half the relief amount by December 20 and the remaining half by June 20 of the following year.

Appropriates $150,000,000 from the General Fund in two installments (December 20, 2023 and June 20, 2024) to fund the first year of the program before sales tax revenues become available.