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 require the commissioner to transfer $10 million of the money collected under a specific statute to this account at the end of each fiscal year. Additionally, it 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.

The bill also includes a coordination instruction stating that if Senate Bill No. 90 is not passed and approved, then the provisions of this act will be void. Furthermore, it establishes an immediate effective date upon passage and approval. The amendments to the existing law include the addition of a new subsection that outlines the transfer of funds and the appropriation for implementation, while a previous subsection regarding the deposit of fines and penalties has been modified to include the new provisions.

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