The bill seeks to enhance funding for school facilities and technology in Montana by consolidating two existing state special revenue accounts and prioritizing financial resources for various educational programs. It proposes an increase in the school major maintenance amount and the multiplier in the state major maintenance aid formula, which will provide more funds to school districts for major maintenance projects without adding financial pressure on property taxpayers. The bill also aims to update statutes related to state school technology payments, remove outdated references to natural resource development payments, and allow these payments to support state major maintenance aid and debt service assistance.

Key amendments include changing the transfer of earnings from the school facilities fund from a monthly to an annual schedule and repealing a specific section of the Montana Code Annotated (MCA). The bill also revises several sections of the MCA to reflect these changes, including adjustments to the calculation of the BASE budget levy for K-12 districts, which must now be prorated for elementary and high school programs separately. Additionally, it introduces a new technology acquisition and depreciation fund, increases the school major maintenance amount from $15,000 to $40,000, and mandates a transfer of funds from the general fund to the school facilities fund to maintain a balance of $300 million by August 15, 2025. Most provisions will take effect on July 1, 2025, while the act itself will become effective upon passage and approval.

Statutes affected:
LC Text: 17-5-703, 17-7-502, 20-6-702, 20-9-380, 20-9-502, 20-9-516, 20-9-525, 20-9-533, 20-9-622, 20-9-635