Senate Bill No. introduced by B. Beard aims to limit the growth of revenue generated from education levies in Montana. The bill stipulates that the state school equalization mills and the vocational-technical education levy cannot exceed a 3% increase in revenue compared to the previous year. Additionally, it 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, specifically those imposed under sections 20-9-331, 20-9-333, 20-9-360, or 20-25-439. The bill also outlines the calculation procedures for levies and specifies that taxes imposed do not include net or gross proceeds taxes.

Furthermore, the bill establishes that the maximum number of mills a governmental entity can impose is based on the previous year's property tax assessments, adjusted for inflation, and capped at a 3% increase. It also details the definition of newly taxable property and the conditions under which certain levies may be excluded from the revenue growth limit. The provisions of the bill 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(5): 15-10-420
SB0102_1: 15-10-420