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 procedures for calculating 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 3% increase.

Furthermore, the bill includes provisions that allow governmental entities to impose levies for specific purposes, such as emergency levies and judgment levies, without being restricted by the new revenue growth limits. It also clarifies that taxes imposed do not include net or gross proceeds taxes and establishes that the department will calculate the number of mills to be imposed for certain sections, ensuring that the total property tax does not exceed the previous year's amount plus the 3% increase. The act is set to apply to 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