The bill proposes an amendment to Section 7-6-2527 of the Montana Code Annotated, specifically exempting agricultural property from open space property tax levies. The new legal language states that property classified as agricultural under 15-6-133 will not be subject to these levies. Additionally, if any exempt agricultural property receives a payment from open space levy revenue, the county has the authority to reduce the payment for that property accordingly.

The bill also establishes an immediate effective date upon passage and approval, and it includes a retroactive applicability clause, meaning that the exemption will apply to open space levies for property tax years starting on or after January 1, 2025. This change aims to provide financial relief to agricultural property owners by removing the burden of open space property taxes.

Statutes affected:
LC Text: 7-6-2527