Change provisions relating to the School District Property Tax Relief Act and transfers of General Fund net receipts to the Cash Reserve Fund and the School District Property Tax Relief Credit Fund

This bill amends Nebraska's School District Property Tax Relief Act by changing how state tax revenue is distributed between two funds. It establishes a formula to determine whether excess tax revenue goes to the Cash Reserve Fund or the School District Property Tax Relief Credit Fund, based on comparisons between actual and estimated state tax collections. The bill specifically mandates increasing annual transfers from the General Fund to the School District Property Tax Relief Credit Fund, starting with $750 million in 2024-25 and growing to $902 million by 2029-30, with future years increasing by 3% annually. These transfers directly fund property tax credits for homeowners in school districts, reducing their annual tax burden.