Bill > LC0096

This bill clarifies the property tax exemption for nonfossil energy generation and low-emission wood or biomass combustion devices in Montana. Specifically, the bill maintains existing tax exemption amounts of $20,000 for single-family residential dwellings and $100,000 for multifamily residential or nonresidential structures, but adds new administrative requirements for claiming the exemption. Property owners must now submit a claim form to the state department that includes details such as the installation date, total installation cost, property geocode, and any additional information deemed relevant by the department. The exemption will continue to be valid for 10 years following installation and will be calculated based on the value of capital investments, not to exceed the maximum allowance. These changes aim to provide more structured documentation and transparency for property owners seeking tax relief for investing in alternative energy technologies. The bill becomes effective immediately upon passage.

https://bills.legmt.gov/#/lc/bill/2/LC0096