House Bill No. introduced by J. Gillette aims to provide property tax assistance for primary residences funded through lodging tax revenue. The bill amends Sections 15-65-121 and 90-1-122 of the Montana Code Annotated (MCA) to facilitate this funding mechanism. Notably, it introduces a new provision that requires any revenue exceeding a specified amount designated for the department of commerce to be transferred to a state property tax assistance account. This amount is calculated based on the previous fiscal year's revenue adjusted for inflation and a small percentage of the prior year's revenue. Additionally, the bill appropriates $50,000 from the general fund to the department of revenue for the implementation of these provisions.

The bill also modifies the allocation of lodging tax proceeds, specifying that 63% of the proceeds will be used directly by the department of commerce, subject to certain conditions. It maintains existing allocations for various tourism-related initiatives while ensuring that unspent funds can be redistributed for tourism media, rural tourism projects, and grants. The effective dates for the provisions are set for July 1, 2025, with specific sections, including the new allocation rules, becoming effective on July 1, 2027.

Statutes affected:
LC Text: 15-65-121, 90-1-122
HB0887_1(1): 15-65-121, 90-1-122
HB0887_1(2): 15-65-121, 90-1-122
HB0887_1(3): 15-65-121, 90-1-122
HB0887_1(4): 15-65-121, 90-1-122
HB0887_1(5): 15-65-121, 90-1-122
HB0887_1: 15-65-121, 90-1-122