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 defines newly taxable property, while ensuring that the maximum number of mills imposed does not exceed the previous year's property tax revenue plus the specified 3% increase.

Furthermore, the bill 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. It also clarifies that certain taxes, such as net or gross proceeds taxes, are excluded from the calculations of imposed taxes. The new regulations will take effect for property tax years beginning after December 31, 2025, ensuring a structured approach to managing education funding while maintaining fiscal responsibility.

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