This bill aims to revise the property taxation framework for certain Class Eight business equipment, specifically focusing on manufacturing machinery, fixtures, and equipment. It introduces provisions for an abatement of property taxes, stipulating that the abatement must not be less than 80% of the taxable value. Additionally, the bill mandates that any requests for abatement be reviewed by the governing body of the respective county, ensuring a structured process for businesses seeking tax relief.

The bill also includes definitions relevant to the abatement process and amends Section 15-6-138 of the Montana Code Annotated (MCA) to incorporate these changes. Furthermore, it establishes an applicability date for the new provisions, ensuring that the revised taxation rules are implemented in a timely manner.

Statutes affected:
SB0530_1.pdf: 15-6-138
SB0530_2.pdf: 15-6-138
Amended: 15-6-138
Introduced: 15-6-138