House Bill No. [insert bill number] requires entities that are exempt from property taxes to report the beneficial use of their property to the Department of Revenue. Specifically, if an exempt entity leases property for the beneficial use of a nonexempt entity, it must submit an annual report detailing the leased property and a copy of the lease agreement. If the beneficial use is not reported as required, the property will be subject to taxation under existing provisions. This bill amends Section 15-6-201 of the Montana Code Annotated (MCA) to clarify these reporting requirements and the consequences of noncompliance.

Additionally, the bill introduces a new section that codifies these reporting requirements as part of Title 15, chapter 6, part 2 of the MCA. The amendments aim to ensure that exempt entities are held accountable for the use of their properties and that appropriate tax assessments are applied when necessary. The bill emphasizes the importance of transparency in the leasing of exempt properties and aims to prevent potential tax evasion by ensuring that beneficial uses are properly reported.

Statutes affected:
LC Text: 15-6-201
HB0025_1(1): 15-6-201
HB0025_1(2): 15-6-201
HB0025_1(3): 15-6-201
HB0025_1(4): 15-6-201
HB0025_1: 15-6-201