Senate Bill No. introduced by D. Fern aims to revise the distribution of funds from the coal severance tax to enhance the Coal Severance Tax Permanent Fund. The bill amends Section 15-35-108 of the Montana Code Annotated (MCA) to redirect remaining allocations from the general fund to the Coal Severance Tax Permanent Fund. Specifically, it stipulates that all revenue from severance taxes collected will be credited to the trust fund established under 17-6-203(6) starting in the fiscal year beginning July 1, 2027, rather than being allocated to the general fund as previously stated.

Additionally, the bill maintains existing allocations for various programs, including a percentage for the major repair long-range building program, basic library services, conservation districts, and the Montana Growth Through Agriculture Act. It also includes provisions for a permanent fund account for parks acquisition and management, as well as allocations for cultural and aesthetic projects. The changes aim to ensure a more sustainable funding mechanism for the Coal Severance Tax Permanent Fund while continuing to support essential state programs.

Statutes affected:
LC Text: 15-35-108
SB0343_1(1): 15-35-108
SB0343_1(2): 15-35-108
SB0343_1(3): 15-35-108
SB0343_1(4): 15-35-108
SB0343_1: 15-35-108
SB0343_2(1): 15-35-108
SB0343_2(10): 15-35-108
SB0343_2(11): 15-35-108
SB0343_2(2): 15-35-108
SB0343_2(3): 15-35-108
SB0343_2(4): 15-35-108
SB0343_2(5): 15-35-108
SB0343_2(6): 15-35-108
SB0343_2(7): 15-35-108
SB0343_2(8): 15-35-108
SB0343_2(9): 15-35-108
SB0343_2: 15-35-108