House Bill No. introduced by J. Gillette aims to provide property tax relief by reallocating a portion of insurance tax revenue to the State Property Tax Assistance Account. The bill amends Section 33-2-708 of the Montana Code Annotated (MCA) to include a provision that mandates the commissioner to transfer $10 million of the money collected under a specific section to the property tax assistance account at the end of each fiscal year. Additionally, it specifies that all other fees collected by the commissioner must be deposited into the state special revenue fund.

The bill also includes an appropriation of $50,000 from the general fund to the Department of Revenue for the biennium beginning July 1, 2025, to implement the provisions of Senate Bill No. 90. Furthermore, it contains a coordination instruction stating that if Senate Bill No. 90 is not passed, then this act will be void. The bill is set to take effect immediately upon passage and approval.

Statutes affected:
LC Text: 33-2-708
HB0892_1(1): 33-2-708
HB0892_1(2): 33-2-708
HB0892_1(3): 33-2-708
HB0892_1(4): 33-2-708
HB0892_1(5): 33-2-708
HB0892_1: 33-2-708