Bill > HB18

This bill modifies several sections of Montana law to redirect various tax revenues from the state general fund to a newly established "school equalization and property tax reduction account" created in section 20-9-336. Specifically, the bill changes how revenues from sources like bentonite mining taxes, federal land use funds, fines, and production taxes are allocated. Instead of being deposited into the state general fund, these revenues will now be deposited into the school equalization and property tax reduction account. The changes affect how county commissioners levy taxes for elementary and high school funding, and require counties to keep separate accounting of these revenues. The bill ensures that these funds will be used to support school district BASE (Basic Assistance Support Entitlement) funding programs and potentially provide property tax relief. The modifications apply to multiple sections of Montana Code Annotated, including sections related to tax distribution, county tax levies, and the handling of various revenue streams. The bill will take effect on July 1, 2025, and appears to be designed to provide more dedicated funding for school districts and potentially reduce local property tax burdens.

Budget and Finance

https://bills.legmt.gov/#/laws/bill/20251/LC0080