Senate Bill No. [insert bill number] proposes amendments to the Montana Code Annotated regarding the calculation of local government levies, specifically addressing how the release of incremental taxable value is treated. The bill clarifies that the release of incremental taxable value from districts utilizing tax increment financing will not be considered newly taxable property when calculating local government levies. This change is reflected in the amendments to Sections 15-10-420 and 20-9-336, where the definition of newly taxable property is adjusted to exclude increases in value due to the release of incremental taxable value. Additionally, the bill specifies that the taxable value of newly taxable property includes the release of taxable value from these districts under certain conditions.

Furthermore, the bill introduces a coordination instruction stating that if both this act and Senate Bill No. 117 are passed, this act will be void. It also establishes an applicability date, indicating that the provisions will apply to mill levy calculations that include the release of taxable value from districts using tax increment financing created after the effective date of this act. This legislative change aims to provide clarity and consistency in the calculation of property taxes for local governments in Montana.

Statutes affected:
LC Text: 15-10-420, 20-9-336
SB0002_1(1): 15-10-420, 20-9-336
SB0002_1(2): 15-10-420, 20-9-336
SB0002_1(3): 15-10-420, 20-9-336
SB0002_1(4): 15-10-420, 20-9-336
SB0002_1(5): 15-10-420, 20-9-336
SB0002_1(6): 15-10-420, 20-9-336
SB0002_1(7): 15-10-420, 20-9-336
SB0002_1(8): 15-10-420, 20-9-336
SB0002_1(9): 15-10-420, 20-9-336
SB0002_1: 15-10-420, 20-9-336
SB0002_2(1): 15-10-420, 20-9-336
SB0002_2(2): 15-10-420, 20-9-336
SB0002_2(3): 15-10-420, 20-9-336
SB0002_2(4): 15-10-420, 20-9-336
SB0002_2(5): 15-10-420, 20-9-336
SB0002_2(6): 15-10-420, 20-9-336
SB0002_2(7): 15-10-420, 20-9-336
SB0002_2(8): 15-10-420, 20-9-336
SB0002_2: 15-10-420, 20-9-336