HOUSE JOINT RESOLUTION NO. 2
INTRODUCED BY R. SOMERVILLE
A JOINT RESOLUTION OF THE SENATE AND THE HOUSE OF REPRESENTATIVES OF THE STATE OF MONTANA ESTABLISHING AN OFFICIAL ESTIMATE OF THE STATE'S ANTICIPATED GENERAL FUND REVENUE FOR EACH YEAR OF THE 2002-03 BIENNIUM FOR THE PURPOSE OF ACHIEVING A BALANCED GENERAL FUND BUDGET AS MANDATED BY ARTICLE VIII, SECTION 9, OF THE MONTANA CONSTITUTION; ACCEPTING A JUNE 30, 2000, UNRESERVED GENERAL FUND BALANCE THAT WAS ESTABLISHED BASED ON GENERALLY ACCEPTED ACCOUNTING PRINCIPLES; ESTABLISHING OFFICIAL ESTIMATES OF CERTAIN NONGENERAL FUND REVENUE; AND REQUESTING THAT THE GOVERNOR'S OFFICE OF BUDGET AND PROGRAM PLANNING USE THE REVENUE ESTIMATES CONTAINED IN THIS RESOLUTION AS OFFICIAL REVENUE ESTIMATES FOR FISCAL YEARS 2001, 2002, AND 2003.
WHEREAS, Article VI, section 9, of the Montana Constitution requires the Governor to submit to the Legislature a budget for the ensuing fiscal period, containing in detail for all operating funds the proposed expenditures and estimated revenue of the state; and
WHEREAS, Article VIII, section 9, of the Montana Constitution prohibits the Legislature from appropriating funds in excess of the anticipated revenue of the state; and
WHEREAS, section 5-18-107, MCA, requires the Revenue and Taxation Interim Committee to estimate the amount of revenue projected to be available for legislative appropriation and to introduce a resolution setting forth the Committee's current revenue estimate for the biennium; and
WHEREAS, the Legislature intends that its revenue estimates and the underlying assumptions used to derive those estimates be used by all agencies in the development of fiscal notes; and
WHEREAS, section 5-12-302(6), MCA, requires the Legislative Fiscal Analyst to assist the Revenue and Taxation Interim Committee in its revenue estimating duties; and
WHEREAS, the Revenue and Taxation Interim Committee obtains the assistance of Executive Branch agencies in the development of the revenue estimates; and
WHEREAS, the Revenue and Taxation Interim Committee has adopted revenue estimates for the general fund and for specific nongeneral fund sources that are significant in the development of the state budget for the 2003 biennium; and
WHEREAS, the amount of estimated revenue and the general fund balance affects policy decisions of the Executive Branch and the Legislative Branch; and
WHEREAS, the revenue estimates and the underlying assumptions contained in this resolution provide the basis for a comprehensive analysis of the state's financial condition.
NOW, THEREFORE, BE IT RESOLVED BY THE SENATE AND THE HOUSE OF REPRESENTATIVES OF THE STATE OF MONTANA:
That the state general fund revenue for fiscal years 2001, 2002, and 2003 be estimated to be $1,200,186,000, $1,198,729,000, and $1,210,972,000, respectively.
BE IT FURTHER RESOLVED, that the Legislature accept for budget purposes the unreserved fiscal year 2000 fund balance of $176,000,000 for the general fund, prepared according to generally accepted accounting principles.
BE IT FURTHER RESOLVED, that the Governor's Office of Budget and Program Planning use the revenue estimates and the underlying assumptions contained in this resolution as the official revenue estimates for fiscal years 2001, 2002, and 2003.
BE IT FURTHER RESOLVED, that the Department of Revenue provide the Legislative Fiscal Division with reports at least quarterly concerning aggregate audit collections for the individual income tax, corporation license tax, coal severance tax, telecommunications tax, and oil and natural gas production tax, beginning with the quarter ending September 2001. The reports must include for each tax type the amount of tax, penalty, and interest. The Department shall also on a quarterly basis notify the Legislative Fiscal Division by tax type of aggregate audit settlements greater than $250,000.
BE IT FURTHER RESOLVED, that the Legislature recognize the competing priorities of implementing POINTS and encourage the Department to recognize the importance of providing audit collections in SABHRS on a monthly basis.
BE IT FURTHER RESOLVED, that the Department report to the Revenue and Taxation Interim Committee at each meeting during the 2003 biennium on the progress of integrating POINTS with the state accounting system to enable the reporting of audits, penalties, and interest collections separately on SABHRS.
GENERAL FUND REVENUE
The projections for total general fund revenue during the 2003 biennium (FY 2002 and FY 2003) are based on the assumption of a continuation of Montana law as it existed on January 1, 2001. The revenue estimates contained in the following tables are based on the assumptions listed in the tables that follow the general fund estimates and the assumptions contained in the "Revenue Estimates as Adopted by the Revenue and Taxation Committee" report prepared by the Legislative Fiscal Division.
Current Law
General Fund Revenue Estimates
(In Millions of Dollars)
Adjusted
Actual Estimated Estimated Estimated
Source of Revenue FY 2000 FY 2001 FY 2002 FY 2003
Individual Income Tax $516.262 $545.356 $575.077 $598.531
Statewide and Vo-Tech Property Taxes 194.197 175.065 173.754 178.828
Corporation Income Tax 90.683 74.626 72.903 74.394
Common School Interest and Income 44.296 47.924 42.621 43.600
Insurance Tax and License Fees 39.334 40.810 42.656 44.030
Permanent Coal Trust Interest Earnings 39.195 39.117 39.133 39.043
U.S. Mineral Royalty 19.243 27.845 21.756 20.474
All Other Revenue 20.488 19.582 19.662 19.462
Wildfire Reimbursements 0.000 28.878 14.570 0.000
Tobacco Settlement Revenue 34.804 15.677 18.925 19.147
Telecommunications Excise Tax 6.366 21.523 18.756 19.113
Video Gambling Machine Tax 13.851 13.828 13.796 15.107
Treasury Cash Account Interest 16.088 17.703 14.696 14.127
Inheritance Tax and Estate Tax 19.039 19.691 17.118 10.097
Oil and Natural Gas Production Tax 11.363 14.188 12.407 11.985
Motor Vehicle Fees 11.716 12.954 11.772 12.004
Public Institution Reimbursements 11.345 11.755 12.521 12.932
Coal Severance Tax 9.502 8.918 9.073 9.058
Liquor Excise and License Tax 7.172 7.534 7.925 8.383
Cigarette Tax 8.464 8.222 8.057 7.889
Investment License Fee 5.390 6.081 6.580 7.119
Lottery Profits 5.841 6.197 6.281 6.372
Liquor Profits 5.900 5.659 5.977 6.267
Nursing Facilities Fee 6.055 5.533 5.547 5.575
Foreign Capital Depository Tax 0.000 0.000 0.000 0.000
Electrical Energy Producers' License Tax 4.829 4.562 4.644 4.664
Metalliferous Mines Tax 2.703 4.063 4.706 4.553
Highway Patrol Fines 4.028 4.096 4.166 4.237
Public Contractors Tax 2.162 1.887 2.441 2.478
Wholesale Energy Transaction Tax 1.895 3.500 3.568 3.614
Tobacco Tax 2.017 2.137 2.265 2.400
Driver's License Fee 2.333 2.165 2.178 2.194
Railroad Car Tax 2.101 1.665 1.688 1.718
Wine Tax 1.017 1.059 1.107 1.156
Beer Tax 0.370 0.386 0.403 0.421
Telephone License Tax 3.491 0.000 0.000 0.000
Long-Range Bond Excess 0.101 0.000 0.000 0.000
Total General Fund $1,163.641 $1,200.186 $1,198.729 $1,210.972
SIGNIFICANT ASSUMPTIONS FOR GENERAL FUND REVENUE ESTIMATES
Revenue and Taxation Interim Committee
Year Assumption 2000 2001 2002 2003
Individual Income Tax
CY Taxpayer Population (Percent Change) 1.85% 1.85% 1.85% 1.85%
Income Indicators
CY Wage and Salary Income (Percent Change) 5.57% 4.57% 4.51% 4.79%
CY Net Farm Income (Percent Change) 0.00% 0.00% 0.00% 0.00%
CY Interest Income (Percent Change) (0.60%) 11.20% 4.30% (1.70%)
CY Dividend Income (Percent Change) 6.40% 4.10% 2.20% 1.30%
CY Rent, Royalty, and Partnership Income (Percent Change) 1.70% 5.18% 4.92% 4.69%
CY Net Business Income (Percent Change) (0.60%) 1.40% 1.40% 1.40%
CY Capital Gains and Losses (Percent Change) 7.90% 1.70% 1.30% (0.10%)
CY Supplemental Gains (Percent Change) 16.10% 4.10% 3.90% 3.80%
CY Social Security Income (Percent Change) 10.00% 8.30% 7.70% 7.10%
CY IRA Income (Percent Change) 10.90% 9.90% 9.90% 9.90%
CY Pension Income (Percent Change) 10.90% 9.90% 9.90% 9.90%
CY Other Income (Percent Change) 0.00% 0.00% 0.00% 0.00%
CY Additions to Income (Percent Change) 19.13% 3.44% 2.87% 2.32%
CY IRA Deduction (Percent Change) 6.81% 6.81% 6.81% 6.81%
CY Reductions to Income (Percent Change) 2.05% 3.98% 2.83% 1.80%
Deductions From Income
CY Medical Costs and Premiums (Percent Change) 5.80% 6.40% 6.00% 6.60%
CY Property Tax (Percent Change) 2.95% 4.95% 5.49% 5.49%
CY Motor Vehicle Taxes and Fees (Percent Change) 0.00% (50.00%) 0.00% 0.00%
CY Home Mortgage (Percent Change) 8.40% 7.10% 6.60% 6.20%
CY Contributions (Percent Change) 7.43% 7.43% 7.43% 7.43%
CY Gambling Losses (Percent Change) 5.00% 5.00% 5.00% 5.00%
Credits
CY Home Owner and Renter Credit (Millions) $8.936 $9.000 $9.056 $9.117
CY Foreign Capital Depository Taxes (Millions) $0.000 $0.000 $0.000 $0.000
CY Credit for Taxes Paid in Other States (Percent Change) (4.11%) 6.08% 5.73% 5.42%
CY All Other Credits (Percent Change) 0.00% 0.00% 0.00% 0.00%
CY Planned Gifts (Percent Change) 36.91% 18.45% (100.00%) 0.00%
Other Individual Income Tax Assumptions
FY Penalty and Interest (Millions) $3.415 $0.000 $0.000 $0.000
FY Income Tax Audit Collections (Millions) $5.760 $10.500 $14.000 $15.000
FY Amended Returns (Millions) $(0.014) $0.000 $0.000 $0.000
CY Nonresident Tax Liability (Millions) $32.318 $33.927 $35.826 $37.166
CY Current Calendar Year to Fiscal Year Conversion 52.1% 52.1% 52.1% 52.1%
CY Previous Calendar Year to Fiscal Year Conversion 47.9% 47.9% 47.9% 47.9%
FY Fiscal Year 2000 Base (Millions) $516.262
Property Taxes: Taxable Value and Other Property Tax Indicators
Taxable Value--40-Mill, 55-Mill, and 1.5-Mill Levies
FY Property Class One (Millions) $7.027 $5.179 $5.179 $5.179
FY Property Class Two (Millions) $8.282 $8.461 $12.708 $14.720
FY Property Class Three (Millions) $139.192 $139.319 $139.250 $138.864
FY Property Class Four (Millions) $894.188 $920.536 $966.097 $1,019.148
FY Property Class Five (Millions) $37.015 $39.009 $39.774 $41.121
FY Property Class Six (Millions) $22.571 $15.695 $9.705 $3.714
FY Property Class Seven (Millions) $1.882 $0.156 $0.151 $0.149
FY Property Class Eight (Millions) $215.748 $112.783 $117.181 $121.751
FY Property Class Nine (Millions) $498.030 $230.833 $223.782 $221.099
FY Property Class Ten (Millions) $8.520 $8.709 $8.313 $7.301
FY Property Class Twelve (Millions) $68.193 $49.641 $49.142 $49.475
FY Property Class Thirteen (Millions) $0.000 $147.143 $139.082 $135.172
FY Total Taxable Value (Millions) $1,863.987 $1,652.914 $1,684.706 $1,737.291
Other Property Tax Indicators
FY Tax Increment Finance Value (Millions) $44.536 $28.429 $29.538 $30.690
FY Property Tax Abatement Value (Millions) $7.875 $3.880 $3.880 $3.880
FY Taxable Value in Vo-Tech Counties (Millions) $618.047 $576.691 $587.783 $603.893
FY Reduction in Taxable Value of Intangible Property (Millions) $0.000 ($4.312) ($29.328) ($44.903)
FY Value Increase Because of Land Cap Sunset $0.000 $0.000 $0.000 $6.410
Property Tax Nonlevy Revenue
FY 40-Mill Nonlevy Revenue (Millions) $10.569 $5.317 $4.812 $4.442
FY 40-Mill Adjustments (Millions) ($12.713) ($11.300) ($9.888) ($8.475)
FY 55-Mill Nonlevy Revenue (Millions) $23.089 $18.031 $17.720 $17.351
FY 55-Mill Adjustments (Millions) $0.274 $4.934 $0.000 $0.000
FY 1.5-Mill Nonlevy Revenue (Millions) $0.121 $0.152 $0.147 $0.142
FY 1.5-Mill Adjustments (Millions) $0.000 $0.039 $0.034 $0.029
Corporation License Tax
FY MT Corporate Taxable Income (Millions) $1,146.150 $1,135.535 $1,152.673 $1,165.016
FY Penalty and Interest (Millions) $0.661 $0.000 $0.000 $0.000
FY Corporate Income Tax Audits (Millions) $0.546 $6.500 $3.750 $4.500
Insurance Premiums Tax and License Fees
FY General Fund Fee Revenue (Millions) $1.028 $0.000 $0.000 $0.000
FY Genetics Fee (Millions) $0.542 $0.550 $0.555 $0.560
FY Premiums Tax (Millions) $40.121 $41.398 $42.715 $44.074
FY Offsets (Millions) $2.083 $0.908 $0.384 $0.374
FY Refunds (Millions) $1.881 $0.230 $0.230 $0.230
Federal Mineral Royalty
CY Oil Production (Millions of Barrels) 2.858 2.778 2.841 2.899
CY Coal Production (Millions of Tons) 25.253 25.194 22.350 22.045
CY Natural Gas Production (MMCF) 15.080 14.758 15.320 15.698
CY Oil Price (Per Barrel) $22.188 $16.722 $16.150 $15.906
CY Coal Price (Per Ton) $9.207 $9.175 $9.550 $9.499
CY Natural Gas Price (Per MCF) $3.566 $3.838 $3.185 $2.649
CY Oil Royalty Rate (Percent) 10.95% 10.96% 10.97% 10.94%
CY Coal Royalty Rate (Percent) 12.28% 12.35% 12.34% 12.32%
CY Natural Gas Royalty Rate (Percent) 12.32% 12.32% 12.28% 12.29%
CY Other Royalties (Millions) $0.106 $0.110 $0.108 $0.108
CY Rent and Bonus (Millions) $2.539 $4.702 $4.084 $4.019
CY Administration Fee (Millions) $1.039 $0.260 $0.000 $0.000
FY One-Time Settlement (Millions) $0.000 $6.038 $0.000 $0.000
Treasurer's Cash Account
FY TCA Average Balance w/TRANS (Millions) $303.628 $268.829 $222.703 $222.703
FY TCA Average Yield (Percent) 5.30% 6.59% 6.60% 6.34%
FY TRANS Issue Size (Millions) $0.000 $0.000 $20.000 $20.000
Inheritance Tax and Estate Tax
FY Annual Change in Tax (Percent Change) 4.03% 3.43% (13.07%) (41.02%)
Video Gambling Machine Tax
FY Video Machine Net Income (Millions) $269.857 $276.551 $283.412 $297.473
Motor Vehicle License Fee--General Fund Allocations
FY Motor Vehicle Registration Fee (Millions) $6.233 $6.354 $6.477 $6.602
FY Recording of Liens Fee (Millions) $0.629 $0.638 $0.646 $0.655
FY Title Fee (Millions) $1.292 $1.299 $1.306 $1.313
FY Personal License Plate Fee (Millions) $0.728 $0.751 $0.775 $0.799
FY New License Plate Fee (Millions) $0.857 $1.874 $0.465 $0.465
FY Computer Fee (Millions) $1.304 $1.344 $1.385 $1.427
FY Highway Patrol Fee (Millions) $0.300 $0.310 $0.320 $0.330
FY Other Fees (Millions) $0.372 $0.385 $0.399 $0.413
Public Institution Reimbursements
FY Private Payments (Millions) $0.512 $2.468 $2.797 $2.904
FY Insurance Payments (Millions) $0.000 $0.583 $0.524 $0.524
FY Medicaid Payments (Millions) $12.491 $10.952 $11.190 $11.500
FY Medicare Payments (Millions) $0.003 $0.741 $0.997 $0.992
FY Debt Service MT Developmental Center (Millions) ($0.965) ($1.079) ($1.075) ($1.075)
FY Debt Service MT State Hospital (Millions) $0.000 ($1.909) ($1.911) ($1.911)
Cigarette Tax
FY Cigarette Packs (Millions) 71.801 70.504 69.088 67.665
FY Effective Tax Rate Per Pack (Cents) 16.39 16.39 16.39 16.39
FY Tribal Distribution (Millions) ($0.178) ($0.297) ($0.291) ($0.287)
Coal Severance Tax
CY Severance Tax Coal Production (Million Tons) 33.915 34.417 34.803 34.313
CY Montana Contract Sales Price (Weighted CSP/Ton) $6.497 $6.545 $6.550 $6.544
Oil Severance Tax
CY Severance Tax Oil Production (Million Barrels) 15.772 16.171 16.538 16.875
CY Montana Oil Price (Weighted Price/Barrel) $26.38 $19.88 $19.20 $18.91
CY Exempt Value of Production (Millions) $15.178 $11.560 $11.274 $11.202
CY Effective Tax Rate (Percent) 10.68% 10.53% 10.40% 10.28%
Lottery Profit
FY Total Lottery Sales (Millions) $29.900 $30.318 $30.554 $30.825
FY Lottery Interest Earnings (Millions) $0.279 $0.322 $0.328 $0.314
FY Other Revenue (Millions) $0.075 $0.085 $0.082 $0.082
FY Lottery Operating Budget (Millions) $7.008 $6.964 $6.983 $6.991
FY Lottery Prizes and Commissions (Millions) $17.321 $17.563 $17.700 $17.857
Liquor Excise Tax
FY Tribal Distributions (Millions) ($0.119) ($0.124) ($0.131) ($0.138)
Nursing Facilities Fee
FY Bed Days (Millions) 2.020 1.976 1.981 1.991
Telephone License Tax
FY Total Taxable Gross Receipts (Millions) $193.922 $0.000 $0.000 $0.000
Liquor Profits
FY Gross Liquor Sales (Millions) $57.359 $60.281 $63.414 $67.080
FY Cost of Goods Sold (Millions) $32.846 $34.519 $36.313 $38.412
FY Liquor Discounts and Commissions (Millions) $5.895 $6.195 $6.517 $6.894
FY Liquor Operating Costs (Millions) $1.167 $1.194 $1.275 $1.284
FY Other Income (Millions) $0.043 $0.043 $0.043 $0.043
Electrical Energy Producers' License Tax
FY Kilowatt Hours Produced (Millions) 22,937.762 22,808.460 23,220.332 23,320.932
Investment License Fees
FY License Registration (Percent Change) 22.12% 12.84% 8.20% 8.20%
Highway Patrol Fines
FY Highway Patrol Fines (Percent Change) 7.16% 1.71% 1.71% 1.71%
Driver's License Fees
FY Driver's License Fees (Millions) $1.893 $1.594 $1.606 $1.620
FY Duplicate License Fees (Millions) $0.033 $0.067 $0.069 $0.071
FY Motorcycle Endorsement Fees (Millions) $0.014 $0.021 $0.021 $0.021
FY Interstate Commercial Vehicle Endorsement (Millions) $0.289 $0.395 $0.395 $0.395
FY Intrastate Commercial Vehicle Endorsement (Millions) $0.065 $0.087 $0.087 $0.087
Metal Mines Tax
CY Copper Production (Million lb) 1.898 3.080 3.196 3.196
CY Silver Production (Million oz) 1.106 1.585 0.846 0.835
CY Gold Production (Million oz) 0.312 0.283 0.082 0.010
CY Lead Production (Million lb) 13.054 13.764 2.294 0.000
CY Zinc Production (Million lb) 33.218 41.486 6.914 0.000
CY Molybdenum Production (Million lb) 3.800 6.300 7.400 7.700
CY Palladium Production (Million oz) 0.341 0.379 0.447 0.504
CY Platinum Production (Million oz) 0.102 0.114 0.134 0.151
CY Nickel Production (Million lb) 0.353 0.392 0.463 0.521
CY Rhodium Production (Million oz) 0.002 0.002 0.002 0.003
CY Sapphire Production (Million oz) 0.000 0.000 0.000 0.000
CY Iron Oxide Production (Million lb) 0.000 0.000 0.000 0.000
CY Copper Sulfide Production (Million lb) 47.202 76.620 79.504 79.504
CY Copper Price (Per lb) $0.508 $0.508 $0.508 $0.508
CY Silver Price (Per oz) $4.915 $5.018 $5.220 $5.297
CY Gold Price (Per oz) $273.000 $281.950 $298.450 $312.800
CY Lead Price (Per lb) $0.223 $0.223 $0.223 $0.223
CY Zinc Price (Per lb) $0.527 $0.527 $0.527 $0.527
CY Molybdenum Price (Per lb) $2.065 $2.065 $2.065 $2.065
CY Palladium Price (Per oz) $700.000 $745.000 $745.000 $745.000
CY Platinum Price (Per oz) $545.000 $545.000 $545.000 $545.000
CY Nickel Price (Per lb) $3.831 $3.831 $3.831 $3.831
CY Rhodium Price (Per oz) $551.571 $551.571 $551.571 $551.571
CY Sapphire Price (Per oz) $0.000 $0.000 $0.000 $0.000
CY Iron Oxide Price (Per lb) $0.000 $0.000 $0.000 $0.000
CY Copper Sulfide Price (Per lb) $0.368 $0.368 $0.368 $0.368
FY Effective Tax Rate (Percent) 1.65% 1.65% 1.65% 1.65%
Contractor's Gross Receipts Tax
FY Tax Before Credits (Millions) $5.516 $5.003 $5.265 $5.359
FY Credits and Refunds (Millions) $3.445 $3.116 $2.824 $2.881
Railroad Car Tax
CY Total MT Market Value of Fleets (Millions) $95.627 $97.075 $99.036 $101.025
CY Taxable Value Rate (Percent) 6.08% 4.27% 4.16% 4.07%
CY 95% of Industrial and Commercial Mill Levy 380.057 401.720 409.755 417.950
Tobacco Products Tax
FY Value of Tobacco Products (Millions) $16.338 $17.316 $18.352 $19.451
FY Tribal Distribution (Millions) ($0.025) ($0.027) ($0.029) ($0.031)
Natural Gas Severance Tax
CY Severance Tax Natural Gas Production (MMCF) 61.502 64.914 67.387 69.049
CY Montana Natural Gas Price (Weighted Price/MCF) $2.741 $2.950 $2.488 $2.036
CY Exempt Value of Production (Millions) $8.773 $9.633 $8.076 $6.732
CY Effective Tax Rate (Percent) 11.16% 11.02% 10.90% 10.81%
Wine Tax
FY Wine Liters (Million) 6.547 6.825 7.129 7.448
FY Tribal Distribution (Million) ($0.027) ($0.028) ($0.029) ($0.030)
Beer Tax
FY Beer Barrels (Million) 0.840 0.876 0.913 0.953
FY Tribal Distribution (Million) ($0.050) ($0.052) ($0.054) ($0.056)
Foreign Capital Depository
FY November Average Balance (Million) $0.000 $0.000 $0.000 $0.000
FY May Average Balance (Million) $0.000 $0.000 $0.000 $0.000
Tobacco Settlement
FY Volume Change (Percent Change) (14.01%) (2.53%) (1.67%) (1.84%)
FY Cumulative Volume Change (Percent Change) (14.01%) (16.19%) (17.58%) (19.10%)
FY CPI Change (Percent Change) 3.00% 3.30% 3.00% 3.00%
FY Cumulative CPI Change (Percent Change) 3.00% 6.40% 9.59% 12.88%
FY Operating Income Adjustment (Millions) $40.788 $42.134 $43.399 $44.701
FY Subsequent Manufacturer's Payment (Millions) $46.572 $48.196 $49.838 $51.634
Wholesale Energy Transaction Tax
CY Kilowatt Hours (Millions) 22,630.597 23,564.316 23,562.631 23,562.631
FY Kilowatt Hours (Millions) 11,714.972 23,335.510 23,788.606 24,097.858
FY Credits for Taxes Paid (Million) $0.000 $0.000 $0.000 $0.000
Telecommunications Excise Tax
FY Taxable Gross Receipts (Millions) $190.390 $552.000 $558.507 $563.013
FY Credits (Millions) $0.000 $0.997 $2.188 $2.000
SELECTED NONGENERAL FUND REVENUE
The projections for selected nongeneral fund revenue during the 2003 biennium are based on the assumption of a continuation of Montana law as it existed on January 1, 2001. The revenue estimates contained in the following table are based on the assumptions listed in the tables that follow the nongeneral fund estimates and the assumptions contained in the "Revenue Estimates as Adopted by the Revenue and Taxation Committee" report prepared by the Legislative Fiscal Division.
Current Law
Selected Nongeneral Fund Revenue Estimates
(In Millions of Dollars)
Adjusted
Source of Revenue Actual Estimated Estimated Estimated
FY 2000 FY 2001 FY 2002 FY 2003
Diesel Tax $54.259 $55.345 $56.452 $58.145
Diesel Storage Tank Fee 2.196 2.239 2.284 2.353
Gas Tax 126.764 123.452 124.793 125.447
Gas Storage Tank Fee 3.788 3.807 3.847 3.867
Nongeneral Fund GVW and Other Fees 33.935 32.366 29.666 29.821
Resource Indemnity Trust Tax 6.793 3.140 2.904 2.809
Arts Trust Interest Earnings 0.254 0.301 0.317 0.331
Capital Land Grant Interest and Income 1.914 0.425 0.570 0.889
Deaf and Blind Trust Interest and Income 0.248 0.243 0.250 0.256
Parks Trust Interest Earnings 1.051 1.091 1.123 1.152
Pine Hills Interest and Income 0.300 0.308 0.316 0.328
Resource Indemnity Trust Earnings 9.184 7.467 7.582 7.609
Tobacco Trust Interest Earnings 0.000 0.225 1.044 1.983
Treasure State Endowment Interest Earnings 5.123 6.173 7.088 7.952
Treasure State Endowment Regional Water System Interest Earnings 0.032 0.473 0.775 1.078
6-Mill Property Tax 13.189 12.484 11.889 12.131
9-Mill Property Tax 8.481 6.585 6.687 6.854
SELECTED ASSUMPTIONS FOR NONGENERAL FUND REVENUE ESTIMATES
Revenue and Taxation Interim Committee
Year Assumption 2000 2001 2002 2003
Diesel Tax
FY Taxable Gallons of Diesel (Millions) 209.610 213.802 218.078 224.621
FY Taxable Gallons of Diesel--Storage Tank Cleanup (Millions) 292.739 298.594 304.566 313.703
FY Refunds (Millions) ($3.326) ($3.392) ($3.460) ($3.564)
Gasoline Tax
FY Taxable Gallons of Gasoline (Millions) 499.783 487.082 492.225 494.734
FY Taxable Gallons of Gasoline--Storage Tank Cleanup (Millions) 505.010 507.580 512.939 515.554
FY Refunds (Millions) ($3.268) ($3.185) ($3.218) ($3.235)
FY Tribal Distribution (Millions) ($3.560) ($3.560) ($3.560) ($3.560)
FY Alcohol Incentive (Millions) $0.000 $0.000 $0.000 $1.500
GVW Fees
FY GVW Fees (Millions) $8.853 $8.853 $8.853 $8.853
FY Form 3 GVW Fees (Millions) $0.856 $0.858 $0.858 $0.858
FY Trip Permit Fees (Millions) $0.881 $0.881 $0.881 $0.881
FY County GVW Fees (Millions) $7.321 $7.428 $7.500 $7.501
FY New Car Sales Tax (Millions) $12.534 $6.945 $0.000 $0.000
FY Motor Vehicle Fee Distribution (Millions) $0.000 $3.847 $7.961 $8.080
FY Overweight Trip Permit Fees (Millions) $1.459 $1.508 $1.550 $1.568
FY Special Permit Fees (Millions) $0.919 $0.931 $0.950 $0.966
FY Temporary Fuel Permits (Millions) $0.105 $0.107 $0.107 $0.107
FY Other Fees (Millions) $1.008 $1.008 $1.008 $1.008
Other 6-Mill Levy Indicators (See General Fund Property Tax Assumptions for Other Detail)
FY Taxable Value (Millions) $1,900.648 $1,677.463 $1,710.364 $1,764.101
FY Nonlevy Revenue (Millions) $2.545 $1.761 $1.627 $1.546
FY 6-Mill Adjustments (Millions) $0.000 $0.658 $0.000 $0.000
9-Mill Levy Indicators
FY Taxable Value (Millions) $716.004 $695.816 $709.630 $730.692
FY Nonlevy Revenue (Millions) $0.861 $0.319 $0.296 $0.274
FY 9-Mill Adjustments (Millions) $0.000 $0.000 $0.000 $0.000
- END -
I hereby certify that the within joint resolution,
HJ 0002, originated in the House.
Chief Clerk of the House
Speaker of the House
Signed this day
of , 2001.
President of the Senate
Signed this day
Latest Version of HJ 2 (HJ0002.ENR)
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