House Bill No. [insert bill number] proposes revisions to the tax rate for agricultural property owned by certain nonprofit corporations in Montana. The bill amends several sections of the Montana Code Annotated (MCA), specifically Sections 15-6-133, 15-6-134, 15-6-229, and 15-18-219. Notably, it introduces a new provision that agricultural land acquired after the effective date of the act and owned by a nonprofit corporation will be subject to different tax calculations, with specific exemptions for certain types of organizations, including churches, schools, hospitals, and others. The taxable value for this land will be computed by multiplying its value by ten times the taxable percentage rate for agricultural land, as opposed to the standard two times for other class three properties.

Additionally, the bill clarifies the classification and taxation of various property types, including residential and commercial properties, and outlines the application process for tax deeds related to residential properties. It also specifies that the exemption for land adjacent to transmission line right-of-way easements does not apply to certain classifications of land, including those classified as agricultural under the amended sections. The act is set to take effect immediately upon passage and approval.

Statutes affected:
LC Text: 15-6-133, 15-6-134, 15-6-229, 15-18-219
HB0928_1(1): 15-6-133, 15-6-134, 15-6-229, 15-18-219
HB0928_1(2): 15-6-133, 15-6-134, 15-6-229, 15-18-219
HB0928_1(3): 15-6-133, 15-6-134, 15-6-229, 15-18-219
HB0928_1: 15-6-133, 15-6-134, 15-6-229, 15-18-219