The bill revises property tax laws in Montana, specifically amending Section 15-10-420 of the Montana Code Annotated (MCA). It establishes that the authority to carry forward mills does not apply to certain state mills, specifically those imposed under sections 20-9-331, 20-9-333, 20-9-360, or 20-25-439. The bill clarifies that governmental entities that do not impose the maximum number of mills authorized may carry forward the difference, but this carry-forward provision is restricted for the specified state mills. Additionally, the bill outlines the calculation procedures for levies and newly taxable properties, while also detailing exceptions and conditions under which certain levies may be applied.

Furthermore, the bill includes a transition provision stating that carry forward mills calculated and imposed for the specified sections prior to January 1, 2025, cannot be applied to tax years beginning after December 31, 2024. It also establishes an immediate effective date upon passage and approval, with retroactive applicability to property tax years starting after December 31, 2024. This legislative change aims to clarify and streamline the property tax process while ensuring that specific state mills are treated distinctly in terms of carry-forward authority.

Statutes affected:
LC Text: 15-10-420