House Bill No. [insert bill number] aims to revise the confidentiality laws surrounding tax records in Montana to enhance the ability of the Commissioner of Securities and Insurance to investigate noncompliance, fraud, and abuse related to securities and insurance laws. The bill amends Section 15-30-2618 of the Montana Code Annotated (MCA) to allow the office of the Montana state auditor, specifically the Commissioner of Securities and Insurance, to access taxpayer return information and employers' payroll withholding reports for investigative purposes. This change is intended to strengthen oversight and enforcement in the securities and insurance sectors.

The bill also includes specific provisions that maintain the confidentiality of tax records while allowing for certain disclosures. Notably, it deletes the previous provision that allowed information sharing with the state fund for workers' compensation investigations and replaces it with the new insertion that permits sharing with the Commissioner of Securities and Insurance. This legislative change reflects a shift in focus towards enhancing regulatory compliance in the financial sector while still protecting taxpayer information. The bill is set to take effect on July 1, 2025, contingent upon certain conditions.

Statutes affected:
LC Text: 15-30-2618
HB0094_1(1): 15-30-2618
HB0094_1(2): 15-30-2618
HB0094_1(3): 15-30-2618
HB0094_1(4): 15-30-2618
HB0094_1(5): 15-30-2618
HB0094_1(6): 15-30-2618
HB0094_1(7): 15-30-2618
HB0094_1: 15-30-2618