Amends and adds to existing law to provide sales tax moneys to replace certain homeowner property taxes.

The purpose of this bill is to provide property tax relief to Idaho homeowners on their primary residence. The bill will dedicate 4.5% of annual sales tax revenues, providing a subtraction from each homeowner’s total property tax bill. For the year 2023, the amount of $150 million will be appropriated from FY 2023 General Fund surplus to begin this relief in the first year after passage of the bill.