The bill, SB 53, seeks to amend various tax laws in Montana, with a particular emphasis on income tax regulations and education savings accounts. Key provisions include the introduction of new definitions for education expenses and withdrawals, allowing for a special rollover from an education savings account to a Roth IRA as a qualified withdrawal. The bill also eliminates the previous cap on deductions for contributions to education savings accounts, which was limited to $3,000, and introduces a new deduction of up to $6,000 for joint filers. Additionally, it modifies the withholding rate on mineral royalty payments to align with the highest marginal tax rate under current law.

Significant changes also involve the repeal of the requirement for a certificate from the Department of Revenue regarding estate tax in probate proceedings and the extension of tax filing deadlines when they coincide with federal holidays. The bill amends several sections of the Montana Code Annotated to clarify marital filing statuses and aligns state tax laws with the Internal Revenue Code. The act is designed to take effect immediately upon passage and will have retroactive applicability for tax years beginning after December 31, 2023.

Statutes affected:
LC Text: 15-30-2120, 15-30-2339, 15-30-2342, 15-30-2538, 15-62-103, 15-62-207, 53-25-117
SB0053_1(1): 15-30-2120, 15-30-2339, 15-30-2342, 15-30-2538, 15-62-103, 15-62-207, 53-25-117
SB0053_1(2): 15-30-2120, 15-30-2339, 15-30-2342, 15-30-2538, 15-62-103, 15-62-207, 53-25-117
SB0053_1(3): 15-30-2120, 15-30-2339, 15-30-2342, 15-30-2538, 15-62-103, 15-62-207, 53-25-117
SB0053_1(4): 15-30-2120, 15-30-2339, 15-30-2342, 15-30-2538, 15-62-103, 15-62-207, 53-25-117
SB0053_1(5): 15-30-2120, 15-30-2339, 15-30-2342, 15-30-2538, 15-62-103, 15-62-207, 53-25-117
SB0053_1(6): 15-30-2120, 15-30-2339, 15-30-2342, 15-30-2538, 15-62-103, 15-62-207, 53-25-117
SB0053_1(7): 15-30-2120, 15-30-2339, 15-30-2342, 15-30-2538, 15-62-103, 15-62-207, 53-25-117
SB0053_1: 15-30-2120, 15-30-2339, 15-30-2342, 15-30-2538, 15-62-103, 15-62-207, 53-25-117
SB0053_2(1): 15-30-2120, 15-30-2339, 15-30-2342, 15-30-2538, 15-62-103, 15-62-207, 53-25-117
SB0053_2(10): 15-30-2120, 15-30-2339, 15-30-2342, 15-30-2538, 15-62-103, 15-62-207, 53-25-117
SB0053_2(2): 15-30-2120, 15-30-2339, 15-30-2342, 15-30-2538, 15-62-103, 15-62-207, 53-25-117
SB0053_2(3): 15-30-2120, 15-30-2339, 15-30-2342, 15-30-2538, 15-62-103, 15-62-207, 53-25-117
SB0053_2(4): 15-30-2120, 15-30-2339, 15-30-2342, 15-30-2538, 15-62-103, 15-62-207, 53-25-117
SB0053_2(5): 15-30-2120, 15-30-2339, 15-30-2342, 15-30-2538, 15-62-103, 15-62-207, 53-25-117
SB0053_2(6): 15-30-2120, 15-30-2339, 15-30-2342, 15-30-2538, 15-62-103, 15-62-207, 53-25-117
SB0053_2(7): 15-30-2120, 15-30-2339, 15-30-2342, 15-30-2538, 15-62-103, 15-62-207, 53-25-117
SB0053_2(8): 15-30-2120, 15-30-2339, 15-30-2342, 15-30-2538, 15-62-103, 15-62-207, 53-25-117
SB0053_2(9): 15-30-2120, 15-30-2339, 15-30-2342, 15-30-2538, 15-62-103, 15-62-207, 53-25-117
SB0053_2: 15-30-2120, 15-30-2339, 15-30-2342, 15-30-2538, 15-62-103, 15-62-207, 53-25-117
SB0053_X(1): 15-30-2120, 15-30-2339, 15-30-2342, 15-30-2538, 15-62-103, 15-62-207, 53-25-117
SB0053_X(2): 15-30-2120, 15-30-2339, 15-30-2342, 15-30-2538, 15-62-103, 15-62-207, 53-25-117
SB0053_X(3): 15-30-2120, 15-30-2339, 15-30-2342, 15-30-2538, 15-62-103, 15-62-207, 53-25-117
SB0053_X(4): 15-30-2120, 15-30-2339, 15-30-2342, 15-30-2538, 15-62-103, 15-62-207, 53-25-117
SB0053_X(5): 15-30-2120, 15-30-2339, 15-30-2342, 15-30-2538, 15-62-103, 15-62-207, 53-25-117
SB0053_X(6): 15-30-2120, 15-30-2339, 15-30-2342, 15-30-2538, 15-62-103, 15-62-207, 53-25-117
SB0053_X(7): 15-30-2120, 15-30-2339, 15-30-2342, 15-30-2538, 15-62-103, 15-62-207, 53-25-117
SB0053_X(8): 15-30-2120, 15-30-2339, 15-30-2342, 15-30-2538, 15-62-103, 15-62-207, 53-25-117
SB0053_X(9): 15-30-2120, 15-30-2339, 15-30-2342, 15-30-2538, 15-62-103, 15-62-207, 53-25-117
SB0053_X: 15-30-2120, 15-30-2339, 15-30-2342, 15-30-2538, 15-62-103, 15-62-207, 53-25-117