This bill proposes to amend Section 15-6-157 of the Montana Code Annotated, which pertains to the classification and taxation of Class Fourteen property, primarily focusing on renewable energy facilities. The bill expands the definition of Class Fourteen property to include various energy generation and storage facilities, such as wind, biomass, and energy storage systems, as well as properties related to biodiesel, biogas, and ethanol production that have commenced construction after specific dates. Notably, the bill introduces new categories for battery energy storage systems and sustainable aviation fuel production facilities, among others.

A significant change in the bill is the adjustment of the tax rate for Class Fourteen property, increasing it from 3% to 6% of its market value. Additionally, the bill establishes an immediate effective date upon passage and approval, along with a retroactive applicability clause that allows the new tax rate to apply to property tax years beginning after December 31, 2024. This change aims to enhance the state's revenue from renewable energy facilities while promoting the development of sustainable energy sources.

Statutes affected:
LC Text: 15-6-157