US Laws, Codes, Statutes & Cases

                                  TITLE  63
                             REVENUE AND TAXATION
                                  CHAPTER 26
                               COUNTY SALES TAX
    63-2603.  COUNTY PROPERTY TAX RELIEF FUND. [EFFECTIVE UNTIL DECEMBER 31,
2009] (1) Any  county which implements a sales or use tax pursuant to this
chapter shall create and establish in the office of the county treasurer a
county property tax relief fund into which shall be placed a minimum of fifty
percent (50%) of any revenue received from the county sales or use tax. On or
before the Tuesday following the first Monday in September of each year, the
county treasurer shall submit to the board of county commissioners and the
state tax commission a statement showing the balance in the county property
tax relief fund as of September 1 of that year.
    (2)  No later than October 10, the balance in the county property tax
relief fund, as of September 1, shall be distributed to the county and any
cities within the county entitled to receive revenues from the county sales or
use tax. Moneys distributed shall be in an amount proportional to the
percentage that the previous year's property tax portion of the budget subject
to the limitations of section 63-802, Idaho Code, for the county and each city
bears to the previous year's total property tax portion of the budget subject
to the limitations of section 63-802, Idaho Code, for the county and all
cities in the county.
    (3)  The dollar amount subject to the limitations of section 63-802, Idaho
Code, shall be the sum of the dollar amount of the portion of property taxes
certified to the board of county commissioners under section 63-804, Idaho
Code, and subject to the limitations of section 63-802, Idaho Code, as if no
county property tax relief fund moneys were to be distributed, and the dollar
amount to be received from the property tax relief fund. The division of the
resulting sum by the value subject to taxation is a quotient that shall not
exceed the levy limits prescribed by Idaho Code. If these limitations are
exceeded, the board of county commissioners shall reduce any applicable budget
request to comply with this section. The levy set to fund this portion of the
budget shall be calculated based on the budget subject to the limitations of
section 63-802, Idaho Code, less the money to be received from the county
property tax relief fund.