HOUSE JOINT RESOLUTION NO. 2
INTRODUCED BY B. LAKE, J. COHENOUR
BY REQUEST OF THE REVENUE AND TRANSPORTATION INTERIM COMMITTEE
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 FISCAL YEAR 2007 AND EACH FISCAL YEAR OF THE 2008-2009 BIENNIUM FOR THE PURPOSE OF ACHIEVING A BALANCED BUDGET AS REQUIRED BY ARTICLE VIII, SECTION 9, OF THE MONTANA CONSTITUTION; ACCEPTING A PRELIMINARY JUNE 30, 2006, 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 2007, 2008, AND 2009.
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 5-5-227(2), MCA, requires the Revenue and Transportation 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; and
WHEREAS, section 5-5-227(3), MCA, expresses the Legislature's intent 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 Transportation Interim Committee in its revenue estimating duties; and
WHEREAS, the Revenue and Transportation Interim Committee obtained the assistance of the Legislative Fiscal Analyst in the development of the revenue estimates; and
WHEREAS, the Revenue and Transportation Interim Committee also obtained the assistance of Executive Branch agencies in the development of the revenue estimates; and
WHEREAS, the Revenue and Transportation Interim Committee has adopted revenue estimates and the underlying assumptions used to derive those estimates for the general fund and for specific nongeneral fund sources that are significant in the development of the state budget for fiscal year 2007 and the 2008-2009 biennium; and
WHEREAS, section 5-5-227(3), MCA, provides that the Revenue and Transportation Interim Committee's estimate, as introduced in the Legislature, constitutes the Legislature's current revenue estimate until amended or until final adoption of the estimate by both houses; 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 revenue 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 2007, 2008, and 2009 be estimated to be $1,762,355,000, $1,797,764,000, and $1,875,209,000, respectively.
BE IT FURTHER RESOLVED, that the Legislature accept for budget purposes the preliminary unreserved fiscal year 2006 fund balance of $407,186,365 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 2007, 2008, and 2009.
GENERAL FUND REVENUE
The projections for total general fund revenue for fiscal years 2007, 2008, and 2009 are based on the assumption of a continuation of Montana law as it existed on January 1, 2007. 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 for each general fund revenue source contained in the "Legislative Budget Analysis, 2009 Biennium, Volume 2 -- Revenue Estimates" (Revenue Estimates as adopted by the Revenue and Transportation Interim Committee) prepared by the Legislative Fiscal Division.
Current Law
General Fund Revenue Estimates
(In Millions of Dollars)
60; Actual Estimated Estimated Estimated
Source of Revenue FY 2006 FY 2007 FY 2008 FY 2009
Individual Income Tax $768.922 $793.847 60; $797.035 $851.111
Statewide and Vo-Tech Property Taxes 177.639 189.282 198.124 & #160; 206.794
Corporation Income Tax 153.675 161.057 ; 161.301 167.267
Oil and Natural Gas Production Tax 92.563 86.241 101.224 101.288
Vehicle Tax 92.097 160; 106.473 109.028 111.645
Insurance Tax and License Fees 58.795 60.241 62.129 64.071
Video Gambling Tax 57.277 160; 59.871 63.649 67.646
Coal Trust Interest 31.106 ; 29.959 29.927 29.945
U.S. Mineral Royalty 29.304 ; 28.680 31.694 29.400
All Other Revenue 31.867 0; 31.542 30.877 31.550
Cigarette Tax 34.573 160; 34.516 33.843 33.308
Tobacco Settlement 2.734 60; 2.822 3.855 3.996
Treasury Cash Account Interest 18.631 27.482 0; 21.546 21.354
Telecommunications Excise Tax 21.209 21.255 & #160; 21.298 21.335
Motor Vehicle Fee 21.195 160; 10.613 9.201 9.394
Public Institution Reimbursements 12.728 11.451 160; 12.742 12.810
3% Accommodations Sales Tax 10.679 11.290 & #160; 11.881 12.504
Coal Severance Tax 9.597 60; 9.813 10.114 9.688
Liquor Excise and License Tax 12.709 13.639 & #160; 14.573 15.551
Investment License Fee 5.584 60;6.002 6.451 6.933
Lottery Profits 9.110 & #160; 8.345 8.838 9.414
Liquor Profits 7.450 & #160; 7.593 8.047 8.515
Nursing Facilities Fee 5.712 60; 5.814 5.781 5.752
Electrical Energy Tax 4.645 60; 4.698 4.798 4.797
Metalliferous Mines Tax 7.028 60; 9.048 9.613 8.867
Highway Patrol Fines 4.316 160; 4.926 4.974 5.023
Public Contractors Tax 4.275 60; 3.883 3.417 3.403
Wholesale Energy Tax 3.813 60; 3.814 3.827 3.811
Tobacco Products Tax 4.360 60; 4.401 4.385 4.406
Driver's License Fee 3.828 60; 3.918 3.952 3.983
4% Rental Car Sales Tax 2.755 2.8 75 3.000 3.131
Railroad Car Tax 1.667 60; 1.631 1.567 1.506
Wine Tax 60;1.624 1.705 1.798 1.892
Beer Tax 60; 2.908 2.922 2.965 3.006
Estate Tax 1.7 73 0.706 0.310 0.113
Telephone License Tax 0.017 60; 0.000 0.000 0.000
Total General Fund $1,708.166 $1,762.355 0; $1,797.764 $1,875.209
SIGNIFICANT ASSUMPTIONS FOR GENERAL FUND REVENUE ESTIMATES
Revenue and Transportation Interim Committee
Year Assumption 2006 60; 2007 2008 2009
Individual Income Tax
FY Income Tax Audit Collections (Millions) $22.744 $25.000 $25.000 $25. 000
CY Taxpayer Population (Percent Change) 2.44% 1.41% 1.38% 60; 1.37%
Income Indicators
CY Wage and Salary Income (Percent Change) 9.50% 4.91% 4.00% 60; 4.31%
CY Net Farm Income (Percent Change) 21.97% 14.41% 11.16% 7.40%
CY Interest Income (Percent Change) 7.85% 5.51% 6.80% 60; 9.98%
CY Dividend Income (Percent Change) 11.19% 11.70% 10.90% 8.67%
CY Rent, Royalty, and Partnership Income (Percent Change) 10.12% 8.74% 9.00% 13.61%
CY Net Business Income (Percent Change) 1.53% 2.26% 2.63% 60; 1.71%
CY Capital Gains and Losses (Percent Change) 0.00% 0.00% 0.00% 60; 0.00%
CY Supplemental Gains (Percent Change) (1.58%) (2.30%) (2.88%) (3.43%)
CY Social Security Income (Percent Change) 11.66% 2.53% 2.55% 160; 2.21%
CY IRA Income (Percent Change) 7.22% 7.77% 0; 5.38% 6.39%
CY Pension Income (Percent Change) 7.22% 7.77% 5.38% 60; 6.39%
CY Other Income (Percent Change) (10.79%) (9.74%) (8.87%) 0; (8.15%)
CY Bond Interest (Percent Change) (2.71%) 4.11% (14.22%) (11.98%)
CY Federal Income Tax Refunds (Percent Change) (38.18%) 7.44% (0.68%) 6.10%
CY Other Additions to Income (Percent Change) 0.00% 0.00% 0.00% 60; 0.00%
CY IRA Deduction (Percent
Change) 7.27% 7.27% 7.27%
CY Reductions to Income (Percent Change) 8.08% 4.65% 4.88% 60; 5.13%
CY Other Reductions to Income 7.00% 7.00% ; 7.00% 7.00%
Deductions From Income
CY Medical Premiums (Percent Change) 5.53% 5.53% 5.53% 60; 5.53%
CY Medical Deductions (Percent Change) 8.05% 8.05% 8.05% 60; 8.05%
CY Real Estate Tax (Percent Change) 4.56% 4.56% 4.56% 60; 4.56%
CY Prior Year Federal Tax Payments (Percent Change) 14.48% 7.28% 1.62% 1.16%
CY Other Taxes (Percent Change) 6.05% 6.05% 0;6.05% 6.05%
CY Home Mortgage (Percent Change) 6.57% 6.57% 6.57% 60; 6.57%
CY Contributions (Percent Change) 3.82% 2.79% 2.47% 2.23%
CY Gambling Losses (Percent Change) 8.34% 8.34% 8.34% 60; 8.34%
CY Total Itemized Deductions (Percent Change) 8.17% 6.06% 4.41% 60; 4.31%
Credits
CY Homeowner and Renter Credit (Millions) $13.132 $13.790 $14.447 $15.104 p>
CY All Other Credits (Percent Change) 10.11% 4.89% 11.23% & #160; 10.10%
Other Individual Income Tax Assumptions
CY All Filers Liability (Millions) $725.858 $747.347 $776.700 & #160; $821.352
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 2006 Adjusted Base (Millions) $722.179
Property Taxes: Taxable Value for Statewide General Fund
Mill Levies and Other Property Tax Indicators
Taxable Value--40-Mill, 55-Mill, and 1.5-Mill Levies
FY Property Class One (Millions) $2.694 $3.252 $3.252 $3.252
FY Property Class Two (Millions) $13.045 $21.106 $25.177 0; $28.544
FY Property Class Three (Millions) $140.988 $141.002 $141.002 & #160; $141.002
FY Property Class Four (Millions) $1,129.794 $1,183.821 $1,232.950 $1,284.117
FY Property Class Five (Millions) $34.611 $35.078 $35.078 0; $35.078
FY Property Class Seven (Millions) $0.953 $1.068 $1.119 & #160; $1.171
FY Property Class Eight (Millions) $123.055 $135.613 $141.444 & #160; $147.526
FY Property Class Nine (Millions) $238.767 $248.320 $256.018 & #160; $263.955
FY Property Class Ten (Millions) $6.794 $6.816 $6.829 $6.843
FY Property Class Twelve (Millions) $44.267 $41.577 $39.465 0; $37.460
FY Property Class Thirteen (Millions) $122.846 $130.476 $138.565 span>$147.156
FY Total Taxable Value (Millions) $1,836.488 $1,940.709 $2,017.122 $2,098.990
Other Property Tax Indicators
FY Tax Increment Finance Value (Millions) $25.464 $28.830 $27.452 $22. 679
FY Property Tax Abatement Value (Millions) $4.137 $18.855 $18.855 $18.8 85
FY Taxable Value in 1.5-Mill Vo-Tech Counties (Millions) $662.811 $693.488 $724.926 $757.911
Property Tax Nonlevy Revenue
FY 40-Mill Nonlevy Revenue (Millions) $0.000 $0.000 $0.000 & #160; $0.000
FY 40-Mill Adjustments (Millions) ($4.238) ($2.825) ($1.413) 0; ($0.000)
FY 55-Mill Nonlevy Revenue (Millions) $0.000 $9.227 $9.350 & #160; $8.780
FY 55-Mill Adjustments (Millions) $0.000 $0.000 $0.000 $0.000
FY 1.5-Mill Nonlevy Revenue (Millions) $0.000 $0.000 $0.000 & #160; $0.000
FY 1.5-Mill Adjustments (Millions) $0.000 $0.000 $0 .000 $0.000
Vehicle Tax
FY Large Trucks Growth Rate (Percent Change) 14.93% 2.40% 2.40% 2.40%
FY Motor Home Growth Rate (Percent Change) 25.79% 2.40% 2.40% 160;2.40%
FY Light Vehicle Growth Rate (Percent Change) 36.54% 2.40% 2.40% 2.40%
FY Boat and Snowmobile Growth Rate (Percent Change) 21.40% 2.40% 2.40% 2.40%
FY Manufacturer's Certificate of Origin Growth Rate (Percent Change) (1.85%) 2.40% 2.40% 2.40%
Corporation License Tax
FY U.S. Profits (Billions) $1,639.400 $1,779.300 $1,825.100 60; $1,850.300
FY Refunds (Millions) $0.000 ($13.752) ($14.901) ($7.790)
FY Corporate Income Tax Audits (Millions) $0.000 $4.000 $4.000 & #160; $4.500
Insurance Premiums Tax and License Fees
FY General Fund Fee Revenue (Millions) $0.199 $0.183 $0.183 & #160; $0.183
FY Genetics Fee (Millions) $0.911 $0.911 60; $0.637 $0.637
FY Premiums Tax (Millions) $60.064 $61.701 & #160; $63.586 $65.529
FY Offsets
(Millions) $1.116 $1.168
FY Refunds (Millions) $0.353 $0.475 60; $0.475 $0.475
Video Gambling Tax
FY Video Machine Net Income (Millions) $378.828 $399.142 $424.324 $450.975
Motor Vehicle Fee--General Fund Allocations
FY Motor Vehicle Registration Fee (Millions) $12.085 $0.000 $0.000 $0.000
FY Recording of Liens Fee (Millions) $0.688 $0.705 $0.722 & #160; $0.739
FY Title Fee (Millions) $2.369 $2.426 60; $2.484 $2.544
FY Personal License Plate Fee (Millions) $1.418 $1.452 $1.487 & #160; $1.523
FY New License Plate Fee (Millions) $2.866 $3.980 $2.409 & #160; $2.439
FY Senior Citizen Transit Fee (Millions) $0.203 $0.207 $0.212 & #160; $0.218
FY Other Fees (Millions) $1.567 $1.605 60; $1.643 $1.683
U.S. Mineral Royalty
CY Oil Production (Millions of Barrels) 4.256 4.256 4.256 4.256
CY Coal Production (Millions of Tons) 23.358 25.236 27.270 0; 21.604
CY Natural Gas Production (MMCF) 28.194 30.221 32.394 160; 34.724
CY Oil Price (Per Barrel) $55.880 $55.086 160; $55.050 $54.101
CY Coal Price (Per Ton) $10.022 $10.022 0; $10.022 $10.022
CY Natural Gas Price (Per MCF) $5.565 $5.488 $6.655 $6.451
CY Oil Royalty Rate (Percent) 11.45% 11.45% & #160; 11.45% 11.45%
CY Coal Royalty Rate (Percent) 11.98% 11.98% 11.98% 11.98%
CY Natural Gas Royalty Rate (Percent) 11.93% 11.93% 11.93% 11.93%
CY Other Royalties (Millions) $5.522 $5.664 60; $6.558 $6.684
CY Rent and Bonus (Millions) $5.169 $5.169 60; $5.169 $5.169
Telecommunications Excise Tax
FY Taxable Gross Receipts (Millions) $565.572 $566.788 $567.927 span>$568.912
Tobacco Settlement
FY Volume Change (Percent Change) (2.07%) (2.07%) (2.07%) (2.07%)
FY Cumulative Volume Change (Percent Change) (30.18%) (31.62%) (33.03%) (34.42%)
FY CPI Change (Percent Change) 3.42% 3.00% 0; 3.00% 3.00%
FY Cumulative CPI Change (Percent Change) 24.25% 27.98% 31.82% 35.78 %
FY Operating Income Adjustment (Millions) $0.000 $0.000 $0.000 & #160; $0.000
FY Subsequent Manufacturers' Payment (Millions) $438.635 $561.377 $740.018 $1,004.773
FY Nonparticipating Manufacturers' Adjustment (Millions) ($3.005) ($3.087) ($3.252) ($3.451)
Public Institution Reimbursements
FY Private Payments (Millions) $1.535 $2.040 60; $2.245 $2.272
FY Insurance Payments
(Millions) $0.284 $0.481 $0.483 $0.481
FY Medicaid Payments (Millions) $9.531 $9.928 $10.809< span> $10.857
FY Medicare Payments (Millions) $1.274 $1.594 $1 .599 $1.594
FY Debt Service MT Developmental Center (Millions) ($0.951) ($1.015) ($1.017) ($1.017)
FY Debt Service MT State Hospital (Millions) ($1.775) ($1.909) ($1.908) ($1.910)
FY Adjustments (Millions) $0.000 $0.000 60; $0.200 $0.200
Estate Tax
FY Annual Change in Tax (Percent Change) (57.69%) (60.17%) (56.07%) (63.44%)
Oil Production Tax
CY Oil Production (Million Barrels) 34.827 38.159 36.425 160; 32.354
CY Montana Oil Price (Weighted Price/Barrel) $53.017 $53.148 $51.979 $51.452
CY Effective Tax Rate (Percent) 7.67% 8.00% 60; 8.83% 10.03%
Natural Gas Production Tax
CY Natural Gas Production (MMCF) 107.258 106.687 104.476 ; 99.981
CY Montana Natural Gas Price (Weighted Price/MCF) $5.29 $6.85 $7.26 $6.96
CY Effective Tax Rate (Percent) 7.70% 7.90% 60; 8.10% 8.47%
Treasury Cash Account Interest
FY TCA Average Balance w/TRANS (Millions) $542.420 $588.605 $468.605 $468.605
FY TCA Average Yield (Percent) 3.61% 4.67% 60; 4.60% 4.56%
FY TRANS Issue Size (Millions) $0.000 $0.000 60;$0.000 $0.000
Liquor Excise and License Tax
FY Gross Sales (Millions) $66.600 $71.439 & #160; $76.351 $81.492
FY Tribal Distributions (Millions) ($0.242) ($0.256) ($0.277) 0; ($0.299)
Coal Severance Tax
CY Severance Tax Coal Production (Million Tons) 35.173 37.018 38.117 34.706
CY Montana Contract Sales Price (Weighted CSP/Ton) $6.849 $6.747 $6.713 $6.585
Cigarette Tax
FY Cigarette Packs (Millions) 48.336 47.580 60; 46.835 46.102
FY Effective Tax Rate Per Pack (Dollars) $1.70 $1.70 $1.70 ; $1.70
FY Tribal Distribution
(Millions) ($3.522) ($3.528) ($3.766)
Lottery Profits
FY Total Lottery Sales (Millions) $39.918 $37.231 $38.348 0; $39.489
FY Lottery Interest Earnings (Millions) $0.200 $0.199 $0.208 & #160; $0.219
FY Other Revenue (Millions) $0.011 $0.011 60; $0.011 $0.011
FY Lottery Operating Budget (Millions) $7.962 $7.593 $7.580 & #160; $7.497
FY Lottery Prizes and Commissions (Millions) $23.056 $21.504 $22.149 $22.808
Nursing Facilities Fee
FY Bed Days (Millions) 1.980 1.983 ; 1.971 1.960
FY Intermediate Care Revenue (Millions) $14.954 $15.044 $15.135 0; $15.226
Liquor Profits
FY Gross Liquor Sales (Millions) $83.916 $90.013 $96.202 0; $102.680
FY Cost of Goods Sold (Millions) $47.324 $51.247 $54.960 0; $58.842
FY Liquor Discounts and Commissions (Millions) $10.148 $10.885 $11.634 $12.417
FY Liquor Operating Costs (Millions) $1.676 $1.732 $1.729 & #160; $1.736
FY Other Income (Millions) $0.019 $0.019 60; $0.019 $0.019
Investment License Fee
FY License Registration (Percent Change) 7.55% 7.48% 7.48% 60; 7.48%
FY Portfolio Growth (Percent Change) 13.27% 10.19% 10.19% 10.19%
FY Expense Growth (Percent Change) (5.22%) 29.13% 0.77% & #160; (0.34%)
Electrical Energy Tax
FY Kilowatt Hours Produced (Millions) 23,516.213 23,490.774 23,989.247 23,981.800
Highway Patrol Fines
FY Highway Patrol Fines (Percent Change) (0.55%) 14.13% 0.98% & #160; 0.98%
Metalliferous Mines Tax
CY Copper Production (Million
lb) 86.012 94.667 94.754 94.887
CY Silver Production (Million oz) 2.175 3.654 0; 3.686 3.022
CY Gold Production (Million oz) 0.130 0.274 0; 0.213 0.015
CY Lead Production (Million lb) 1.196 17.728 60; 18.764 0.000
CY Zinc Production (Million lb) 3.084 48.144 60; 54.614 0.000
CY Molybdenum Production (Million lb) 0; Not disclosed, confidential information
CY Palladium Production (Million oz) 0; Not disclosed, confidential information
CY Platinum Production (Million oz) 0; Not disclosed, confidential information
CY Nickel Production (Million lb) 1.738 1.156 0; 1.327 1.452
CY Rhodium Production (Million oz) 0; Not disclosed, confidential information
CY Sapphire Production (Million oz) 0.000 0.000 0.000 0.000
CY Copper Sulfide Production (Million lb) 0.000 0.000 0.000 0.000
CY Copper Price (Per lb) $3.000 $2.788 160; $2.594 $2.622
CY Silver Price (Per oz) $11.500 $11.951 $12.101 $12.233
CY Gold Price (Per oz) $590.000 $623.740 60; $656.496 $689.645
CY Lead Price (Per lb) $0.450 $0.450 160; $0.450 $0.450
CY Zinc Price (Per lb) $0.660 $0.660 160; $0.660 $0.660
CY Molybdenum Price (Per lb) 0; Not disclosed, confidential information
CY Palladium Price (Per oz) 0; Not disclosed, confidential information
CY Platinum Price (Per oz) Not disclosed, confidential information
CY Nickel Price (Per lb) $5.960 $5.960 160; $5.960 $5.960
CY Rhodium Price (Per oz) 0; Not disclosed, confidential information
CY Sapphire Price (Per oz) $0.000 $0.000 160; $0.000 $0.000
CY Copper Sulfide Price (Per lb) $0.000 $0.000 $ 0.000 $0.000
FY Effective Tax Rate (Percent) 1.70% 1.70% 60; 1.70% 1.70%
Public Contractors Tax
FY Tax Before Credits (Millions) $6.158 $6.171 60;$5.762 $5.807
FY Credits and Refunds
(Millions) $1.883 $2.288 $2.345 $2.404
Wholesale Energy Tax
FY Kilowatt Hours (Millions) 24,870.822 26,225.181 26,314.340 160; 26,202.955
FY Credits for Taxes Paid (Millions) $0.000 $0.000 $0.000 & #160; $0.000
Beer Tax
FY Beer Barrels (Millions) 0.925 0.929 ; 0.942 0.956
FY Tribal Distribution
(Millions) ($0.059) ($0.059) ($0.059)
FY Effective Tax Rate (Percent) 4.18% 4.18% 60; 4.18% 4.18%
Driver's License Fees
FY Driver's License Fees (Millions) $3.142 $3.174 $3.204& #160; $3.232
FY Duplicate License Fees (Millions) $0.316 $0.320 $0.323 & #160; $0.325
FY Motorcycle Endorsement Fees (Millions) $0.012 $0.012 $0.013 & #160; $0.013
FY Commercial Vehicle Endorsement (Millions) $0.353 $0.353 $0.353 $ 0.353
Tobacco Tax
FY Value of Tobacco Products (Millions) $5.697 $5.850 $5.974 & #160; $6.087
FY Snuff Ounces (Millions) 7.982 7.982 ; 7.982 7.982
FY Tribal Distribution
(Millions) ($0.399) ($0.334) ($0.424)
Railroad Car Tax
CY Total MT Market Value of Fleets (Millions) $89.056 $89.064 $89.064 $89.064
CY Taxable Value Rate (Percent) 3.74% 3.55% 60; 3.37% 3.20%
CY 95% of Industrial and Commercial Mill Levy 509.510 515.710 521.990 528.340
Wine Tax
FY Wine Liters (Millions) 8.880 9.328 ; 9.838 10.349
FY Tribal Distribution
(Millions) ($0.031) ($0.033) ($0.035)
SELECTED NONGENERAL FUND REVENUE
The projections for selected nongeneral fund revenue for fiscal year 2007 and the 2008-2009 biennium are based on the assumption of a continuation of Montana law as it existed on January 1, 2007. 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 for each nongeneral fund revenue source contained in the "Legislative Budget Analysis, 2009 Biennium, Volume 2 -- Revenue Estimates" (Revenue Estimates as adopted by the Revenue and Transportation Interim Committee) prepared by the Legislative Fiscal Division.
Current Law
Selected Nongeneral Fund Revenue Estimates
(In Millions of Dollars)
Source of Revenue Actual 0; Estimated Estimated Estimated
60; FY 2006 FY 2007 FY 2008 FY 2009
Gasoline Tax $131.465 $132.000 $132.538 $133.077
Diesel
Tax 67.780
Common School Interest and Income 82.606 75.414 77.7 94 77.049
GVW and Other Fees 28.916 & #160;28.693 28.497 28.982
Federal Forest
Receipts 12.800 13.006
6-Mill Property Tax 11.952 160; 12.505 12.971 13.359
Resource Indemnity Trust Interest 5.916 5.645 5.646 5.658
Treasure State Endowment Trust Interest 8.039 8.434 8.950 9.489
Gasoline Storage Tank Tax 3.727 3.742 60; 3.757 3.773
Resource Indemnity Trust and Ground Water Assessment Tax 1.456 1.307 1.335 1.290
Diesel Storage Tank Tax 2.815 2.961 3.115 3.277
Parks Trust Interest Earnings 0.972 0.983 1.009 1.036
Capital Land Grant Interest and Income 1.590 1.072 1.157 1.217
Tobacco Trust Interest Earnings 3.388 3.939 ; 4.567 5.413
Regional Water Trust Interest Earnings 1.527 1.823 ; 2.082 2.348
Economic Development Trust Interest Earnings 1.194 1.455 1.716 ; 1.982
Pine Hills Interest and Income 0.397 0.387 0.389 0.391
Cultural Trust Interest Earnings 0.447 0.483 ; 0.496 0.510
Deaf and Blind Trust Interest and Income 0.291 0.284 0.286< span> 0.287
Total Nongeneral Fund $367.275 $365.457 160; $374.485 $381.353
SELECTED ASSUMPTIONS FOR NONGENERAL FUND REVENUE ESTIMATES
Revenue and Transportation Interim Committee
Year Assumption 2006 60; 2007 2008 2009
Gasoline Tax
FY Taxable Gallons of Gasoline (Millions) 501.029 503.070 505.119 0;507.177
FY Taxable Gallons of Gasoline -- Storage Tank Cleanup (Millions) 496.919 498.943 500.976 503.016
FY Refunds (Millions) ($2.460) ($2.470) ($2.481) ($2.491)
FY Tribal Distribution
(Millions) ($3.785) ($3.800) ($3.816)
FY Alcohol Incentive (Millions) $0.000 $0.000 60; $0.000 $0.000
Diesel Tax
FY Taxable Gallons of Diesel (Millions) 261.906 275.602 289.930 0; 305.003
FY Taxable Gallons of Diesel -- Storage Tank Cleanup (Millions) 375.269 394.778 415.302 436.893
FY Refunds (Millions) ($4.172) ($4.390) ($4.619) ($4.859)
GVW Fees
FY GVW Fees (Millions) $8.555 $8.686 60; $8.820 $8.955
FY Form 3 GVW Fees (Millions) $1.059 $1.059 60;$1.059 $1.059
FY Trip Permit Fees (Millions) $0.542 $0.542 60; $0.542 $0.542
FY County GVW Fees (Millions) $10.243 $10.400 $10.560 0; $10.722
FY Overweight Trip Permit Fees (Millions) $2.646 $2.751 $2.861 & #160; $2.975
FY Special Permit Fees (Millions) $1.104 $1.161 $1 .230 $1.303
FY Temporary Fuel Permits (Millions) $0.118 $0.111 $0.111 & #160; $0.112
FY Other Fees (Millions) $3.314 $3.314 60; $3.314 $3.314
6-Mill Levy Property Tax Indicators (See General Fund Property
Tax Assumptions for Other Detail)
FY Taxable Value (Millions) $1,861.952 $1,969.539 $2,044.574 160; $2,121.669
FY Nonlevy Revenue (Millions) $0.000 $0.688 60; $0.704 $0.629
FY 6-Mill Adjustments (Millions) $0.000 $0.000 60; $0.000 $0.000
- END -
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