House Bill No. [insert number] proposes the establishment of a program by the Montana Legislature to return excess revenue to resident income taxpayers through income tax refunds. The bill outlines that the legislature may enact this program when the state has excess revenue and provides guidelines for consideration, including the revenue threshold that triggers refunds, the calculation of refund amounts, eligibility requirements, and distribution methods.

Additionally, the bill includes provisions for codification, stating that the new section will be integrated into Title 15 of the Montana Code. It also specifies that the act will take effect upon approval by the electorate and mandates that it be submitted to qualified voters during the general election in November 2026, with a ballot that includes options for voting "YES" or "NO" on the legislative referendum.