HOUSE BILL NO. 160
INTRODUCED BY R. STOKER
BY REQUEST OF THE LEGISLATIVE FINANCE COMMITTEE
AN ACT TRANSFERRING AND APPROPRIATING MONEY FROM THE GENERAL FUND TO REPAY LAND TRUSTS AND TRUST BENEFICIARIES FOR DIVERSIONS FOR ADMINISTRATIVE COSTS; AND PROVIDING AN EFFECTIVE DATE.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MONTANA:
Section 1. Transfer and appropriation for repayment. (1) (a) There is appropriated $822,774.07 from the general fund to Montana state university for the purpose of repaying Montana state university-Bozeman the amount of distributable money plus interest that has been diverted for administrative costs on Morrill Act trust lands.
(b) There is transferred $115,123.49 from the general fund to the Morrill Act permanent trust fund for the purpose of repaying the Morrill Act trust fund the amount of permanent fund money plus interest that has been diverted for administrative costs on Morrill Act trust lands.
(2) The following money is appropriated from the general fund to the identified beneficiary for the purpose of repaying the beneficiary the amount of distributable money plus interest that was inappropriately diverted to pay for administrative costs on Morrill Act trust lands:
Beneficiary 0; &# 160; 0; &# 160; 0; &# 160; 0; &# 160; Diversion
University of Montana-Missoula & #160; 0; &# 160; 0; &# 160; 0; $5.94
Montana State University-Bozeman (2nd Grant) ; 60; & #160; 0; &# 160; $14,500.19
Montana Tech of the University of Montana 60; & #160; 0; &# 160; 0; $761.97
University of Montana-Western (Normal School) 0; &# 160; 0; &# 160; $6,060.68
School for the Deaf and Blind 0; &# 160; 0; &# 160; 0; &# 160; $10.40
Pine Hills Youth Correctional Facility (Reform School) 0; &# 160; 0; &# 160; $19.24
Common Schools Guarantee Account 0; &# 160; 0; &# 160; 0; $206,316.75
Capitol Buildings &# 160; 0; &# 160; 0; &# 160; 0; &# 160; $29,149.38
(3) The following money is transferred from the general fund to the permanent trust fund of the trust identified for the purpose of repaying the permanent trust funds the amount of permanent fund money plus interest that was inappropriately diverted to pay for administrative costs on Morrill Act trust lands:
Permanent Trust Fund 0; &# 160; 0; &# 160; 0; &# 160; Diversio n
Public School Fund 0; &# 160; 0; &# 160; 0; &# 160; < /span>$10,038.28
State Reform School Trust Fund 0; &# 160; 0; &# 160; 0; $8,441.19
The trust established for the support of the School for the Deaf and Blind 0; &# 160; $731.18
(4) (a) There is appropriated $235,747.10 from the general fund to the common schools guarantee account for the purpose of repaying the common schools guarantee account the amount of distributable money that was diverted to allow the department of natural resources and conservation to fully fund the trust land administration account provided for in 77-1-108 to pay administrative costs that were allocated to the capitol building trust, the state reform school trust, and the Montana tech of the university of Montana trust.
(b) There is transferred $4,764.55 from the general fund to the public school fund for the purpose of repaying the public school fund the amount of permanent fund money plus interest that was diverted to allow the department of natural resources and conservation to fully fund the trust land administration account provided for in 77-1-108 to pay administrative costs that were allocated to the capitol building trust, the state reform school trust, and the Montana tech of the university of Montana trust.
Section 2. Obligation settled. The transfers and appropriations provided for in [section 1] satisfy the state's responsibility to the permanent trust funds and beneficiaries and makes the permanent trust funds and beneficiaries of those trust funds whole for the diversions identified in [section 1].
Section 3. Effective date. [This act] is effective July 1, 2007.
- END -
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