PROPERTY TAX RELIEF – Amends existing law to provide for property tax relief.

This Idaho bill (H 74) creates a property tax relief program by establishing a School District Facilities Fund and distributing $150 million from the state general fund over three years (2023-2025). It directly affects school districts by requiring them to use funds to offset property tax levies (reducing what homeowners pay), and homeowners through a dedicated property tax relief account. Key mechanisms include: 50% of the $150 million ($75 million total) going to school facilities for construction/renovation, and 50% ($75 million) to homeowner tax relief accounts. The bill ensures school districts deduct these funds from required property tax levies, lowering annual bills for homeowners while funding school infrastructure needs.