summary
Introduced
03/29/2025
03/29/2025
In Committee
04/10/2025
04/10/2025
Crossed Over
04/08/2025
04/08/2025
Passed
06/19/2025
06/19/2025
Dead
Signed/Enacted/Adopted
06/20/2025
06/20/2025
Introduced Session
2025 Regular Session
Bill Summary
AN ACT GENERALLY REVISING STATE FINANCE LAWS; CREATING THE MONTANA GROWTH AND OPPORTUNITY TRUST; PROVIDING FOR TRANSFERS OF VOLATILE REVENUES TO THE TRUST; PROVIDING FOR ANNUAL DISTRIBUTIONS OF INTEREST INCOME TO STATE SPECIAL REVENUE ACCOUNTS; PROVIDING FOR REINVESTMENT OF A PORTION OF THE TRUST FOR PENSIONS AND HOUSING; PROVIDING FOR CALCULATIONS RELATED TO VOLATILE REVENUE; ESTABLISHING A STATE PROPERTY RELIEF ACCOUNT; ESTABLISHING A MONTANA WATER DEVELOPMENT STATE SPECIAL REVENUE ACCOUNT; ESTABLISHING A BETTER LOCAL BRIDGE ACCOUNT; ESTABLISHING A MONTANA EARLY CHILDHOOD ACCOUNT, BOARD, AND FUNDING; PROVIDING PROPERTY TAX ASSISTANCE THAT IS DISTRIBUTED TO COUNTIES TO BE DISTRIBUTED AS A CREDIT TO CERTAIN PRIMARY RESIDENCES; REQUIRING THE DEPARTMENT OF REVENUE TO CERTIFY PRIMARY RESIDENCES; PROVIDING A PENALTY FOR FALSE OR FRAUDULENT PRIMARY RESIDENCE APPLICATIONS; PROVIDING AN APPEALS PROCESS FOR CERTIFICATION OF A PRIMARY RESIDENCE; PROVIDING A DEFINITION; ESTABLISHING A MONTANA EARLY CHILDHOOD ACCOUNT BOARD AND PROVIDING GRANTS; TRANSFERRING AUTHORITY FOR CERTAIN HOUSING LOANS FROM THE COAL TAX TRUST FUND TO THE MONTANA GROWTH AND OPPORTUNITY TRUST; ESTABLISHING A PENSION FUND; REVISING USE OF ESTABLISHING THE MONTANA HOUSING INFRASTRUCTURE REVOLVING LOAN FUND TRUST; ALLOWING FOR ADDITIONAL USES OF THE DEBT AND LIABILITY FREE FUND; LIMITING THE TRANSFER OF VOLATILE REVENUE WHEN GENERAL FUND DEFICIT IS CERTIFIED OR OPERATING RESERVE IS ESTIMATED AT A CERTAIN AMOUNT; PROVIDING FOR TRANSFERS FROM THE PENSION FUND TO THE TEACHERS' RETIREMENT SYSTEM OR THE PUBLIC EMPLOYEES' RETIREMENT SYSTEM ON CERTIFICATION OF THE RETIREMENT SYSTEM BOARD; PROVIDING FOR AN INCREASE TO THE EMPLOYER SUPPLEMENTAL CONTRIBUTION RATE; PROVIDING FOR FUND TRANSFERS; PROVIDING APPROPRIATIONS; ESTABLISHING REPORTING REQUIREMENTS; PROVIDING RULEMAKING AUTHORITY; AMING SECTIONS 15-7-102, 15-10-420,- 2025 69th Legislature 2025 HB 924 15-15-101, 15-15-102, 15-15-103, 15-16-101, 15-17-125, 15-38-302, 17-6-214, 17-6-308, 17-6-317, 17-6-801, 17-7-130, 17-7-133, 17-7-140, 19-3-316, 19-20-609, 85-1-631, 90-6-137, AND 90-6-603, MCA; AMING SECTION 5, CHAPTER 48, LAWS OF 2023, AND SECTION 24, CHAPTER 722, LAWS OF 2023; REPEALING SECTION 17-7-134, MCA; AND PROVIDING AN IMMEDIATE EFFECTIVE DATE.”
AI Summary
This bill creates a comprehensive financial management strategy for Montana, centered around the Montana Growth and Opportunity Trust. The bill establishes a new trust fund that will receive transfers of "volatile revenue" (calculated based on capital gains, partnerships, and interest earnings) from the general fund, with funds split between a distribution and reinvestment portion. The distribution portion will allocate money to several state special revenue accounts, including local disaster resilience, property tax assistance, water development, local bridge infrastructure, and early childhood programs. The reinvestment portion will primarily fund a pension fund and a housing trust. The bill also introduces a new state property tax assistance program for primary residences, where homeowners can apply to receive a property tax credit. Notably, the bill includes provisions for reducing volatile revenue transfers if the state's general fund balance falls below certain thresholds, creates a new Montana Early Childhood Account Board to manage early childhood grants, and makes adjustments to pension contribution rates. The legislation aims to provide more stable funding for state programs, offer property tax relief, and create long-term financial planning mechanisms for Montana.
Committee Categories
Budget and Finance
Sponsors (1)
Last Action
Chapter Number Assigned (on 06/20/2025)
Official Document
bill text
bill summary
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bill summary
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bill summary
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