Establishes a foundation property tax reduction fund in Iowa to lower property tax rates.

The bill creates a foundation property tax reduction fund in the state treasury, separate from the general fund, to lower property tax rates. The fund will receive appropriations and transfers from various state funds, including the Iowa economic emergency fund, the cash reserve fund, the taxpayer relief fund, and the general fund. Starting July 1, 2026, the fund's balance will be appropriated to the Department of Management to reduce the foundation property tax levy rate. The fund's moneys will not revert to the general fund, and interest or earnings will remain in the fund.

Establishes a foundation property tax reduction fund in Iowa to lower property tax rates.

The bill creates a foundation property tax reduction fund in the state treasury, separate from the general fund, to lower property tax rates. The fund will receive appropriations and transfers from various state funds, including the Iowa economic emergency fund, the cash reserve fund, the taxpayer relief fund, and the general fund. Starting July 1, 2026, the fund's balance will be appropriated to the Department of Management to reduce the foundation property tax levy rate. The fund's moneys will not revert to the general fund, and interest or earnings will remain in the fund.