The bill aims to provide property tax incentives specifically for facilities engaged in the production of alternative fuels, such as renewable diesel and sustainable aviation fuel. It introduces a property tax abatement for these production facilities, stipulating that this abatement cannot be claimed at the same time as the new or expanding industry property tax abatement. Additionally, the bill revises the classification of property to include taxation provisions for renewable diesel and sustainable aviation fuel production facilities.

To implement these changes, the bill amends several sections of the Montana Code Annotated (MCA), specifically sections 15-6-157, 15-6-158, 15-24-1402, 15-24-3102, and 15-24-3111. It also provides definitions relevant to the new provisions and establishes an applicability date for the changes.

Statutes affected:
SB0510_1.pdf: 15-6-157, 15-6-158, 15-24-3102, 15-24-3111
SB0510_2.pdf: 15-6-157, 15-6-158, 15-24-3102, 15-24-3111
SB0510_3.pdf: 15-6-157, 15-6-158, 15-24-3102, 15-24-3111
SB0510_4.pdf: 15-6-157, 15-6-158, 15-24-3102, 15-24-3111
Amended: 15-6-157, 15-6-158, 15-24-3102, 15-24-3111
Introduced: 15-6-157, 15-6-158, 15-24-3102, 15-24-3111