Change provisions relating to fund transfers to the School District Property Tax Relief Credit Fund and the amount of tax relief granted under the School District Property Tax Relief Act

Summary

The bill directs the state treasurer to move set amounts of money from the General Fund into the School District Property Tax Relief Credit Fund each fiscal year, starting with $750 million in 2024‑25 and rising each year. It also defines the total amount of property‑tax credits that will be granted to school districts, matching those transfers and increasing annually. The credits are allocated to property owners based on each county’s share of school‑district taxes and are adjusted for homestead exemptions.

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