Senate Bill No. introduced by M. Regier aims to revise property tax laws in Montana by amending Section 15-10-420 of the Montana Code Annotated (MCA). The bill specifies 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 amendment 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 introduces a transition provision stating that carry forward mills calculated for the specified sections prior to January 1, 2025, cannot be applied to tax years beginning after December 31, 2024.

The bill also includes provisions for the immediate effective date upon passage and approval, as well as retroactive applicability to property tax years beginning after December 31, 2024. This means that the changes will take effect immediately but will also apply to past tax years, ensuring that the new regulations are in place for future assessments. Overall, the bill seeks to clarify and limit the circumstances under which governmental entities can carry forward mill authority, thereby impacting property tax calculations in Montana.

Statutes affected:
LC Text: 15-10-420
SB0351_1(1): 15-10-420
SB0351_1(2): 15-10-420
SB0351_1: 15-10-420