Bill > LC1215

This bill makes several technical changes to Montana's education funding laws, specifically focusing on how guaranteed tax base aid is calculated and distributed to school districts. The bill primarily modifies the timing and methodology for determining taxable valuations and guaranteed tax base ratios, shifting from using "previous year" to "current year" data in several calculations. Key changes include moving the deadline for the Department of Revenue to provide property valuation estimates from December 1 to the second Monday in July, and changing the superintendent of public instruction's reporting deadlines from March and May to August. The bill also includes provisions for potentially increasing the state's guaranteed tax base ratio multiplier based on revenue transferred to the state general fund from a specific source, with incremental increases possible between fiscal years 2024 and 2031. These modifications aim to provide more timely and accurate financial information for school district budgeting, ensuring that districts receive appropriate funding support based on their local property values and student populations. The changes are technical in nature but could have meaningful implications for how school districts plan their annual budgets and receive state financial support.

https://bills.legmt.gov/#/lc/bill/2/LC1215