The proposed bill seeks to revise Montana's school funding laws, particularly focusing on property taxes and the mechanisms for funding education. It requires the Office of Public Instruction and the Department of Revenue to report on the impact of property reappraisal on school funding and property taxes. The bill establishes fixed amounts for state and county school equalization mills and vocational-technical education mills, while exempting school levies from certain provisions of the Montana Code Annotated (MCA). It also enhances property tax relief measures, increases guaranteed tax base multipliers for fiscal year 2026, and improves reimbursement rates for school transportation, thereby lowering property taxes.

Additionally, the bill amends various sections of the MCA to establish new payment rates for educational funding categories, including specific amounts for fiscal year 2024 and beyond. It specifies a 33-mill tax for elementary education and a 22-mill tax for high school education, while updating the language regarding the school equalization and property tax reduction account. The bill modifies the calculation of statewide mill values for elementary and high school ANB, adjusts eligibility criteria for guaranteed tax base aid, and significantly increases transportation reimbursement rates. The changes are designed to ensure equitable distribution of state aid and enhance funding for school facilities and transportation, with the bill set to take effect immediately upon passage.

Statutes affected:
LC Text: 15-7-111, 15-10-420, 20-9-306, 20-9-331, 20-9-333, 20-9-336, 20-9-360, 20-9-366, 20-9-367, 20-9-368, 20-9-404, 20-9-525, 20-9-533, 20-10-141, 20-10-144, 20-10-145, 20-10-146, 20-25-439, 90-6-403
HB0483_1(1): 15-7-111, 15-10-420, 20-9-306, 20-9-331, 20-9-333, 20-9-336, 20-9-360, 20-9-366, 20-9-367, 20-9-368, 20-9-404, 20-9-525, 20-9-533, 20-10-141, 20-10-144, 20-10-145, 20-10-146, 20-25-439, 90-6-403
HB0483_1: 15-7-111, 15-10-420, 20-9-306, 20-9-331, 20-9-333, 20-9-336, 20-9-360, 20-9-366, 20-9-367, 20-9-368, 20-9-404, 20-9-525, 20-9-533, 20-10-141, 20-10-144, 20-10-145, 20-10-146, 20-25-439, 90-6-403