Senate Bill No. introduced by B. Beard aims to limit the growth of revenue generated from education levies in Montana. Specifically, it stipulates that the state school equalization mills and the vocational-technical education levy cannot exceed a 3% increase over the revenue collected in the previous year. The bill amends Section 15-10-420 of the Montana Code Annotated (MCA) to clarify that the authority to carry forward mills does not apply to certain state mills, including those imposed under specific sections related to education funding. Additionally, the bill outlines the calculation procedures for levies and newly taxable properties, ensuring that the maximum number of mills imposed does not exceed the previous year's property tax revenue plus the 3% increase.

The bill also includes provisions that allow governmental entities to impose levies for various specific purposes, such as emergency levies and support for regional resource authorities, without being subject to the 3% cap. Furthermore, it establishes that the department will calculate the number of mills to be imposed for certain educational purposes, ensuring that the total property taxes assessed do not surpass the previous year's amount plus the allowed increase. The new regulations will take effect for property tax years beginning after December 31, 2025.

Statutes affected:
LC Text: 15-10-420
SB0102_1(1): 15-10-420
SB0102_1(2): 15-10-420
SB0102_1(3): 15-10-420
SB0102_1(4): 15-10-420
SB0102_1: 15-10-420