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HOUSE JOINT RESOLUTION NO. 2
INTRODUCED BY M. MILLER
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 GENERAL FUND REVENUE FOR FISCAL YEAR 2015 AND EACH FISCAL YEAR OF THE 2016-2017 BIENNIUM FOR THE PURPOSE OF ACHIEVING A BALANCED BUDGET AS REQUIRED BY ARTICLE VIII, SECTION 9, OF THE MONTANA CONSTITUTION; ACCEPTING A PRELIMINARY UNASSIGNED GENERAL FUND BALANCE; 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 2015, 2016, AND 2017.
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, 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 2015 and the 2016-2017 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 2015, 2016, and 2017 be estimated to be $2,133,018,000, $2,230,731,000, and $2,353,508,000 $2,151,786,000, $2,251,181,000, AND $2,357,877,000 respectively.
BE IT FURTHER RESOLVED, that the Legislature accept for budget purposes the preliminary unassigned fiscal year 2014 fund balance of $427,900,000 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 2015, 2016, 2017.
GENERAL FUND REVENUE
The projections for total general fund revenue for fiscal years 2015, 2016, and 2017 are based on the assumption of the continuation of Montana and federal law as it existed on January 1, 2015. 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 (as adopted by the Revenue and Transportation Interim Committee) contained in the "Legislative Budget Analysis, 2017 Biennium, Volume 2 -- Revenue Estimates" prepared by the Legislative Fiscal Division.
Current Law
General Fund Revenue Estimates
(In Millions of Dollars)
60; 0; ; & #160; &# 160; 60; 0; ; Actual & #160; Estimated 0; ; Estimated &# 160; 60; Estimated
Source of Revenue ; & #160; &# 160; 60; 0; FY 2014 &# 160; FY 2015 &# 160; 60;FY 2016 &# 160; FY 2017
Largest Seven Sources 0; ; & #160; &# 160; 60; 0; 0; ; & #160; &# 160;
Individual Income Tax 60; 0; ; & #160; &# 160;1,063.284 0; 1,108.333 60; 1,212.526 &# 160; 1,295.799
60; 0; ; & #160; &# 160; 60; 0; 1,063.284 ; 1,142.481 0; 1,229.127 60; 1,311.185< /span>
Property Tax 60; 0; ; & #160; &# 160; 60; 250.344 & #160; 249.834 & #160; 245.351 & #160; 255.344
60; 0; ; & #160; &# 160; 60; 0; ; 250.344 & #160; &# 160; 250.239 & #160; &# 160; 242.930 & #160; &# 160; 252.480
Corporate Income Tax 60; 0; ; & #160; &# 160; 147.548 & #160; 157.683 & #160; 148.626 & #160; 152.522
60; 0; ; & #160; &# 160; 60; 0; ; 147.548 & #160; &# 160; 154.272 & #160; &# 160; 179.829 & #160; &# 160; 156.851
Vehicle Taxes & Fees &# 160; 60; 0; ; & #160; 101.088 & #160; 102.290 & #160; 103.566 & #160; 104.769
60; 0; ; & #160; &# 160; 60; 0; ; 101.088 & #160; &# 160; 103.500 & #160; &# 160; 106.200 & #160; &# 160; 108.600
Oil & Natural Gas Production Tax 60; 0; ; 109.606 & #160; 95.233 & #160; &# 160; 90.628&# 160; 60; 92.682
60; 0; ; & #160; &# 160; 60; 0; ; 109.606 & #160; &# 160; 78.811 &# 160; 60; 59.250 60; 0; 68.589
Insurance Tax & License Fees &# 160; 60; 0; ; 60.873 & #160; &# 160; 63.928 &# 160; 60; 65.357 60; 0; 66.102
60; 0; ; & #160; &# 160; 60; 0; ; 60.873 &# 160; 60; 67.787 60; 0; 72.325 0; ; 74.877
Video Gambling Tax 60; 0; ; & #160; &# 160; 57.147 & #160; &# 160; 60.423 &# 160; 60; 62.744 60; 0; 66.041
60; 0; ; & #160; &# 160; 60; 0; ; 57.147 &# 160; 60; 60.029 60; 0; 62.007 0; ; 64.966
Largest Seven Sources Subtotal 0; ; & #160; 1,789.890 0; 1,837.724 60; 1,928.797 &# 160; 2,033.260
60; 0; ; & #160; &# 160; 60; 0; 1,789.890 ; 1,857.118 0; 1,951.668 60; 2,037.548< /span>
Other Business Taxes & #160; &# 160; 60; 0; ; & #160; &# 160; &# 160; 60; 0;
Driver's License Fee 60; 0; ; & #160; &# 160; 4.051 &# 160; 60; 4.397 0; ; 4.082 & #160; &# 160; 4.468
60; 0; ; & #160; &# 160; 60; 0; ; 4.051 60; 0; 4.395 ; < /span>4.081 &# 160; 60; 4.465
Investment License Fee 60; 0; ; & #160; &# 160; 7.115 60; 0; 7.257 & #160; 7.412 &# 160; 60; 7.567
Lodging Taxes & #160; &# 160; 60; 0; ; & #160; 17.725 & #160; &# 160; 19.169 &# 160; 60; 20.114 60; 0; 21.316
60; 0; ; & #160; &# 160; 60; 0; ; 17.725 &# 160; 60; 20.079 60; 0; 21.872 0; ; 23.835
Public Contractors Tax 60; 0; ; & #160; &# 160; 0.887 60; 0; 2.817 & #160; 3.560 &# 160; 60; 3.476
Railroad Car Tax 60; 0; ; & #160; &# 160; 60; 2.418 &# 160; 60; 3.641 0; ; 3.698 & #160; &# 160; 3.849
60; 0; ; & #160; &# 160; 60; 0; ; 2.418 60; 0; 3.641 ; < /span>3.741 &# 160; 60; 3.883
Rental Car Sales Tax 60; 0; ; & #160; &# 160; 3.521 &# 160; 60; 3.749 0; ; 3.896 & #160; &# 160; 4.071
60; 0; ; & #160; &# 160; 60; 0; ; 3.521 60; 0; 3.714 ; < /span>3.818 &# 160; 60; 4.012
Telecommunications Excise Tax 60; 0; ; & #160;19.657 & #160; &# 160; 20.186 &# 160; 60; 19.934 60; 0; 19.771
60; 0; ; & #160; &# 160; 60; 0; ; 19.657 &# 160; 60; 19.239 60; 0; 18.999 0; ; 18.842
Other Business Taxes Subtotal 0; ; & #160; &# 160; 55.374 & #160; &# 160; 61.216 &# 160; 60; 62.696 60; 0; 64.518
60; 0; ; & #160; &# 160; 60; 0; ; 55.374 &# 160; 60; 61.141 60; 0; 63.483 0; ; 66.081
Other Natural Resource Taxes & #160; &# 160; 60; 0; ; ; & #160; & #160; &# 160; 60;
Coal Severance Tax 60; 0; ; & #160; &# 160; 14.745 & #160; &# 160; 15.427 &# 160; 60; 16.118 60; 0; 16.612
60; 0; ; & #160; &# 160; 60; 0; ; 14.745 &# 160; 60; 15.629 60; 0; 16.164 0; ; 16.642
Electrical Energy Tax 60; 0; ; & #160; &# 160; 4.280 &# 160; 60; 4.721 0; ; 4.708 & #160; &# 160; 4.696
60; 0; ; & #160; &# 160; 60; 0; ; 4.280 60; 0; 4.738 ; < /span>4.580 &# 160; 60; 4.553
Metalliferous Mines Tax 60; 0; ; & #160; &# 160; 7.948 &# 160; 60; 8.004 0; ; 8.015 & #160; &# 160; 7.491
60; 0; ; & #160; &# 160; 60; 0; ; 7.948 60; 0; 8.238 ; < /span>8.311 &# 160; 60; 7.918
US Mineral Royalty & #160; &# 160; 60; 0; ; 27.744 & #160; &# 160; 26.888 &# 160; 60; 24.726 60; 0; 24.557
60; 0; ; & #160; &# 160; 60; 0; ; 27.744 &# 160; 60; 26.109 60; 0; 24.069 0; ; 24.675
Wholesale Energy Tax 60; 0; ; & #160; &# 160; 3.112 &# 160; 60; 3.652 0; ; 3.629 & #160; &# 160; 3.608
60; 0; ; & #160; &# 160; 60; 0; ; 3.112 60; 0; 3.623 ; < /span>3.595 &# 160; 60; 3.565
Other Natural Resource Taxes Subtotal 0; ; < /span>57.828 & #160; &# 160; 58.692 &# 160; 60; 57.197 60; 0; 56.963
60; 0; ; & #160; &# 160; 60; 0; ; 57.828 &# 160; 60; 58.337 60; 0; 56.719 0; ; 57.352
Other Interest Earnings 0; ; & #160; &# 160; 60; 0; 0; ; & #160; &# 160;
Coal Trust Interest & #160; &# 160; 60; 0; ; 21.996 & #160; &# 160; 20.473 &# 160; 60; 19.849 60; 0; 22.491
60; 0; ; & #160; &# 160; 60; 0; ; 21.996 &# 160; 60; 20.470 60; 0; 19.842 0; ; 22.485
Treasury Cash Account Interest & #160; &# 160; 60; 0; 1.756 &# 160; 60; 1.605 0; ; 9.196 & #160; &# 160; 21.378
60; 0; ; & #160; &# 160; 60; 0; ; 1.756 60; 0; 1.605 ; < /span>8.527 &# 160; 60; 20.786
Other Interest Earnings Subtotal 0; ; & #160; < span style="text-decoration: line-through">23.752 & #160; &# 160; 22.078 &# 160; 60; 29.045 60; 0; 43.869
60; 0; ; & #160; &# 160; 60; 0; ; 23.752 &# 160; 60; 22.075 60; 0; 28.368 0; ; 43.271
Other Consumption Taxes & #160; &# 160; 60; 0; ; ; & #160; & #160; &# 160; 60;
Beer Tax 60; 0; ; & #160; &# 160; 60; 0; 3.023 &# 160; 60; 3.110 0; ; 3.169 & #160; &# 160; 3.229
60; 0; ; & #160; &# 160; 60; 0; ; 3.023 60; 0; 3.095 ; < /span>3.129 &# 160; 60; 3.189
Cigarette Tax 60; 0; ; & #160; &# 160; 60; 30.623 & #160; &# 160; 30.363 &# 160; 60; 30.914 60; 0; 30.191
60; 0; ; & #160; &# 160; 60; 0; ; 30.623 &# 160; 60; 30.713 60; 0; 31.036 0; ; 30.453
Liquor Excise & License Tax 60; 0; ; & #160; 18.418 & #160; &# 160; 19.086 &# 160; 60; 19.720 60; 0; 20.446
60; 0; ; & #160; &# 160; 60; 0; ; 18.418 &# 160; 60; 18.950 60; 0; 19.472 0; ; 20.300
Liquor Profits & #160; &# 160; 60; 0; ; & #160; 10.500 & #160; &# 160; 10.744 &# 160; 60; 11.184 60; 0; 11.618
60; 0; ; & #160; &# 160; 60; 0; ; 10.500 &# 160; 60; 10.663 60; 0; 11.035 0; ; 11.530
Lottery Profits & #160; &# 160; 60; 0; ; & #160; 12.091 & #160; &# 160; 12.596 &# 160; 60; 13.409 60; 0; 14.440
60; 0; ; & #160; &# 160; 60; 0; ; 12.091 &# 160; 60; 12.177 60; 0; 11.631 0; ; 13.439
Tobacco Tax 60; 0; ; & #160; &# 160; 60; 5.929 &# 160; 60; 6.235 0; ; 6.413 & #160; &# 160; 6.579
60; 0; ; & #160; &# 160; 60; 0; ; 5.929 60; 0; 6.233 ; < /span>6.396 &# 160; 60; 6.559
Wine Tax 60; 0; ; & #160; &# 160; 60; 0; 2.250 &# 160; 60; 2.299 0; ; 2.366 & #160; &# 160; 2.438
60; 0; ; & #160; &# 160; 60; 0; ; 2.250 60; 0; 2.298 ; < /span>2.363 &# 160; 60; 2.434
Other Consumption Taxes Subtotal 0; ; & #160; 82.834 & #160; &# 160; 84.434 &# 160; 60; 87.175 60; 0; 88.941
60; 0; ; & #160; &# 160; 60; 0; ; 82.834 &# 160; 60; 84.130 60; 0; 85.062 0; ; 87.904
Other Sources 0; ; & #160; &# 160; 60; 0; ; ; & #160; & #160; &# 160; 60;
All Other Revenue ; & #160; &# 160; 60; 0; 37.320 & #160; &# 160; 39.492 &# 160; 60; 36.426 60; 0; 36.656
60; 0; ; & #160; &# 160; 60; 0; ; 37.320 &# 160; 60; 40.096 60; 0; 37.119 0; ; 37.133
Highway Patrol Fines &# 160; 60; 0; ; & #160; 4.142&# 160; 60; 0; 4.224 ; 4.255 & #160; &# 160; 60;4.251
Nursing Facilities Fee 60; 0; ; & #160; &# 160; 4.961 60; 0; ;4.859 & #160; 4.756 &# 160; 60; 4.654
Public Institution Reimbursements 0; ; & #160; 17.298 & #160; &# 160; 17.123 &# 160; 60; 17.239 60; 0; 17.280
60; 0; ; & #160; &# 160; 60; 0; ; 17.298 &# 160; 60; 16.630 60; 0; 16.606 0; ; 16.570
Tobacco Settlement 60; 0; ; & #160; &# 160; 3.646 0; ; 3.176 & #160; 3. 145 60; 0; 3.115
Other Sources Subtotal 0; ; & #160; &# 160; 60; 67.367 & #160; &# 160; 68.875 &# 160; 60; 65.821 60; 0; 65.956
60; 0; ; & #160; &# 160; 60; 0; ; 67.367 &# 160; 60; 68.986 60; 0; 65.881 0; ; 65.723
Total General Fund & #160; &# 160; 60; 0; ; $2,077.044 60; $2,133.018 $2,230.731&# 160; 60; $2,353.508
60; 0; ; & #160; &# 160; 60; 0; $2,077.044 0; $2,151.786< span> & #160; $2,251.181 60; 0; $2,357.877
SIGNIFICANT ASSUMPTIONS FOR GENERAL FUND REVENUE ESTIMATES
Year Assumption & #160; &# 160; 60; 0; ; & #160; 2014 &# 160; 60; 0; 2015 & #160; 2016&# 160; 60; 0; 2017
Largest Seven Sources
Individual Income Tax
CY Wage & salary income
growth &
#160; &#
160;
60;
0;
60; 6.2% 60; 0; ; & #160; &# 160; 60; 5.2 % 0; ; 6.2% & #160; &# 160; 6.7%
CY Interest income growth & #160; &# 160; 60; 0; ; -0.1% &# 160; 60; 1.4% 0; ; 12.0% & #160; 26.8%
60; -0.3% 60; 0; ; & #160; &# 160; 60; -0.7% 0; ; 8.8% & #160; &# 160; 25.2%
CY Dividend income growth & #160; &# 160; 60; 0; ; 3.7% &# 160; 60; 6.6% 0; ; 3.7% & #160; &# 160; 0.3%
60; 3.7% 60; 0; ; & #160; &# 160; 60; 6.4 % 0; ; 3.4% & #160; &# 160; 1.1%
CY Taxable refunds growth & #160; &# 160; 60; 0; ; 0.0% & #160; &# 160; 60; 0.0% 0; ; 0.0%& #160; &# 160; 60; 0.0%
CY Alimony received growth & #160; &# 160; 60; 0; ; 4.0% & #160; &# 160; 60; 4.0% 0; ; 4.0% & #160; &# 160; 60;4.0%
CY Net business growth & #160; &# 160; 60; 0; ; -0.3% &# 160; 60; 1.9% 0; ; 0.7% & #160; &# 160; 2.0%
60; -0.4% 60; 0; ; & #160; &# 160; 60; 2.2% 0; ; -0.2% & #160; &# 160; 2.3%
CY Capital gains income
growth &
#160; &#
160;
60;
0;
60; 19.1% &# 160; 60; 0; ; & #160; &# 160; 1.1% 60; 0; ; 7.4% & #160; &# 160; 4.2%
CY Supplemental gains income growth & #160; &# 160; 60; -40. 0% 60; 0; 2.0% & #160; 2.0% 0; ; 2.0%
CY Rents, royalties, and partnership
income growth & #160; &# 160; 60; 0; ; & #160;12.7% & #160; &# 160; 10.5% &# 160; 60; 0;8.8% & #160; 7.6%
60; 2.9% 60; 0; ; & #160; &# 160; 60; 5.0 % 0; ; 2.2% & #160; &# 160; -2. 5%
CY IRA income growth & #160; &# 160; 60; 0; ; 6.2% &# 160; 60; 7.0% 0; ; 6.9% & #160; &# 160; 6.6%
60; 12.7% &# 160; 60; 0; ; & #160; &# 160; 10.8% &# 160; 60; 0; 8.8% & #160; 7.5%
CY Taxable pension income growth & #160; &# 160; 60; 0; 5.4% &# 160; 60; 4.3% 0; ; 1.5% & #160; &# 160; -1.4%
60; 6.2% 60; 0; ; & #160; &# 160; 60; 6.7 % 0; ; 6.8% & #160; &# 160; 6.2%
CY Taxable social security
income growth & #160; &# 160; 60; 0; ; & #160; 5.0% &# 160; 60; 0.0% 0; ; 0.0% & #160; &# 160; 0.0%
60; 8.6% 60; 0; ; & #160; &# 160; 60; 7.8 % 0; ; 7.5% & #160; &# 160; 6.9%
CY Farm income
growth &
#160; &#
160;
60;
0;
;
0.0% &
#160; &#
160; 0.0%
60; 5.0%
CY Unemployment compensation
growth &
#160; &#
160;
60;
60; 0.0% 60; 0; ; & #160; &# 160; 60; 0.0 % 0; ; 0.0% & #160; &# 160; 0.0%
CY Other income
growth &
#160; &#
160;
60;
0;
;
0.0% &
#160; &#
160; 0.0%
60; -20.0%
CY Total additions growth & #160; &# 160; 60; 0; ; 1.1% &# 160; 60; 0.0% 0; ; 0.5% & #160; &# 160; 0.4%
60; 1.2% 60; 0; ; & #160; &# 160; 60; 1.7 % 0; ; -0.5% & #160; 0.2%
CY Total adjustments growth & #160; &# 160; 60; 0; ; 4.0% & #160; &# 160; 60;4.1% 0; ; 4.1% & #160; &# 160; 4.2%
CY Federal inflation
factor &#
160;
60;
0;
;
1.7% &#
160;
60; 1.6%
0;
;
1.0% &
#160; &#
160; 1.4%
60; 0; ; & #160; &# 160; 60; 0; ; & #160; -0.3%
CY State inflation factor &# 160; 60; 0; ; & #160; 2.1% &# 160; 60; 0.8% 0; ; 1.5% & #160; &# 160; 2.2%
60; 2.1% 60; 0; ; & #160; &# 160; 60; -1.0% 0; ; 2.2% & #160; &# 160; 2.4%
CY Full-year resident adjustment 60; 0; ; 101.3% & #160; 102.9% & #160; 104.1% & #160; 105.1%
60; 101.0% & #160; &# 160; 60; 0; ; & #160; 102.1% & #160; 103.5% & #160; 104.6%
CY Nonresident adjustment 60; 0; ; & #160; 107.3% & #160; 107.3% & #160; 107.3% & #160; 107.3%
60; 107.4% & #160; &# 160; 60; 0; ; & #160; 107.4% & #160; 107.4% & #160; 107.4%
CY Elderly homeowner/renter
credit growth & #160; &# 160; 60; 0; ; & #160; 0.0% &# 160; 60; 0; 0.0% & #160; 0.0% &# 160; 60; 0;0.0%
CY All other credits growth & #160; &# 160; 60; 0; ; 15.4% & #160; &# 160; 5.0% 60; 0; ; 5.4% & #160; &# 160; 4.5%
60; 17.5% &# 160; 60; 0; ; & #160; &# 160; 7.8% 60; 0; ; 6.3% & #160; &# 160; 6.4%
FY Audit, penalty, and interest
collections (Millions) ; & #160; &# 160; 60; 0; ; ; $37.029 & #160; $39.162 & #160; $41.393
60; 0; ; & #160; &# 160; 60; 0; ; $41.744 & #160; &# 160; $44.910 & #160; &# 160; $47.909
FY RTIC Adjustment (Millions) ; & #160; &# 160; 60; 0; ; $12.400 0; ; $51.246 0; ; $66.194
Property Tax
FY Class 1 taxable value (Millions) ; & #160; &# 160; 60; 60; 0; $3.791 & #160; &# 160; $4.014 &# 160; 60; $4.181
60; 0; ; & #160; &# 160; 60; 0; ; $3.791 &# 160; 60; $3.879 60; 0; $4.025
FY Class 2 taxable value (Millions) ; & #160; &# 160; 60; 60; 0; $25.555 & #160; $27.062 & #160; $28.188
60; 0; ; & #160; &# 160; 60; 0; ; $25.555 & #160; &# 160; $26.151 & #160; &# 160; $27.136
FY Class 3 taxable value (Millions) ; & #160; &# 160; 60; 60; 0; $143.467 &# 160; 60; $135.260 & #160; &# 160; $140.585
FY Class 4 taxable value (Millions) ; & #160; &# 160; 60; 60; 0; $1,521.371 60; $1,478.052 $1,534.847
60; 0; ; & #160; &# 160; 60; 0; $1,521.371 0; $1,446.232 &# 160; $1,500.814
FY Class 5 taxable value (Millions) ; & #160; &# 160; 60; 60; 0; $44.566 60; 0; $46.430 60; 0; $48.371
FY Class 7 taxable value
(Millions)
;
&
#160; &#
160;
60;
60;
0; $1.182
FY Class 8 taxable value (Millions) ; & #160; &# 160; 60; 60; 0; $146.332 &# 160; 60; $153.795 & #160; &# 160; $161.639
FY Class 9 taxable value (Millions) ; & #160; &# 160; 60; 60; 0; $374.692 &# 160; 60; $396.631 & #160; &# 160; $419.854
FY Class 10 taxable value (Millions) ; & #160; &# 160; 60; 60; 0; $6.215 0; ; $3.128 & #160;$3.097
FY Class 12 taxable value (Millions) ; & #160; &# 160; 60; 60; 0; $72.873 60; 0; $76.460 60; 0; $81.767
60; 0; ; & #160; &# 160; 60; 0; ; & #160; &# 160; &# 160; 60; $83.369
FY Class 13 taxable value (Millions) ; & #160; &# 160; 60; 60; 0; $170.052 &# 160; 60; $173.103 & #160; &# 160; $176.209
FY Class 14 taxable value (Millions) ; & #160; &# 160; 60; 60; 0; $31.347 60; 0; $31.347 60; 0; $31.347
FY Class 15 taxable value (Millions) ; & #160; &# 160; 60; 60; 0; $1.757 0; ; $1.757 & #160;$1.757
FY Abatement value (Millions) ; & #160; &# 160; 60; 0; 0; ; $20.855 & #160; $20.723 & #160; $21.581
60; 0; ; & #160; &# 160; 60; 0; ; $20.855 & #160; &# 160; $20.463 & #160; &# 160; $21.315
FY TIF Value (Millions) ; & #160; &# 160; 60; 0; ; $49.385 & #160; $49.821 & #160; $51.069
60; 0; ; & #160; &# 160; 60; 0; ; $45.187 & #160; &# 160; $44.216 & #160; &# 160; $47.541
Corporate Income Tax
CY WTI price ($/barrel) 0; ; & #160; &# 160; 60;$94.65 & #160; &# 160; $77.96 &# 160; 60; $78.45 60; 0; $86.81
60; $92.97 &#
160;
60;
0;
;
&
#160; &#
160; $45.03 &#
160;
60; $58.92
CY Domestic crude price ($/barrel) 0; ; & #160; $95.44 & #160; &# 160; $79.84 &# 160; 60; $80.94 60; 0; $89.05
60; $94.46 &#
160;
60;
0;
;
&
#160; &#
160; $43.83 &#
160;
60; $58.50
CY Montana retail sales (Millions) ; & #160; &# 160; $18,266 & #160; $18,985 & #160; $19,842 & #160; $20,846
60; $18,317 & #160; &# 160; 60; 0; ; & #160;$18,569 & #160; $19,517 & #160; $20,538
CY Montana median home price ($) 0; ; < /span>$199,290 0; ; $204,564 60; 0; $213,387 &# 160; 60;$223,145
60; $201,603
&
#160; &#
160;
60;
0;
; $211,331
CY Montana population
(Millions)
;
&
#160; &#
160; 1.026 &#
160;
60; 1.035
0;
;
1.044 &
#160; &#
160; 1.053
60; 1.025 60; 0; ; & #160; &# 160; 60; 1.034 0; ; 1.043 & #160; &# 160; 1.051
CY Wholesale employment (Thousands) &# 160; 60; 0; 17.112 & #160; &# 160; 17.281 &# 160; 60; 17.499 60; 0; 17.684
60; 17.142 &#
160;
60;
0;
;
&
#160; &#
160; 17.465 &#
160;
60; 17.702
CY 3-month commercial paper & #160; &# 160; 60; 0; ; 0.10% & #160; &# 160; 0.52% &# 160; 60; 1.71 % 0; ; 3.44%
60; 0.10% &# 160; 60; 0; ; & #160; &# 160; 0.49% &# 160; 60; 0;1.71% 0; ; 3.46%
CY Audit, penalty, and interest
collections (Millions) ; & #160; &# 160; 60; 0; ; ; $20.604 & #160; $20.965 & #160; $19.525
60; 0; ; & #160; &# 160; 60; 0; ; $35.604 & #160; &# 160; $21.767 & #160; &# 160; $19.037
CY Refunds (Millions) ; & #160; &# 160; 60; 0; ; ; -$24.191 ; -$22.528 0; ; -$23.470
60; 0; ; & #160; &# 160; 60; 0; ; -$23.773 & #160; -$25.116 & #160; -$21.966
FY BIAS ADJUSTMENT (MILLIONS) &# 160; 60; 0; ; -- ; -- ; $11.739 < /span>$11.848
FY JOINT SUBCOMMITTEE ADJUSTMENT FOR
TAXPAYER BEHAVIOR
(MILLIONS) &#
160;
60;
0;
; --
Vehicle Taxes & Fees
FY Montana new vehicle registrations
(Thousands) 0; ; & #160; &# 160; 60; 0; ; & #160; 64.927 & #160; &# 160; 64.438 &# 160; 60; 64.095
60; 0; ; & #160; &# 160; 60; 0; ; 63.433 &# 160; 60; 65.815 60; 0; 66.516
FY US new vehicle sales (Millions) ; & #160; &# 160; 60; 60; 0; 16.638 & #160; &# 160; 16.871 &# 160; 60; 17.173
60; 0; ; & #160; &# 160; 60; 0; ; 16.735 &# 160; 60; 17.098 60; 0; 17.476
FY US total vehicle stock (Millions) ; & #160; &# 160; 60; 60; 0; 264.851 & #160; 268.533 & #160; 272.058
60; 0; ; & #160; &# 160; 60; 0; ; 264.935 & #160; &# 160; 268.821 & #160; &# 160; 272.653
FY JOINT SUBCOMMITTEE ADJUSTMENT (MILLIONS) &# 160; 60; -- &# 160; 60; $1.417 60; 0; $2.51 2 & #160;$3.511
Oil & Natural Gas Production Tax
CY WTI price ($/barrel) 0; ; & #160; &# 160; 60;$94.65 & #160; &# 160; $77.96 &# 160; 60; $78.45 60; 0; $86.81
60; $92.97 &#
160;
60;
0;
;
&
#160; &#
160; $45.03 &#
160;
60; $58.92
CY Montana oil price ratio 60; 0; ; & #160; 0. 90 0; ; 0.90 & #160; &# 160; 60; 0.90 ; 0.90
CY Total oil production
(Million barrels) & #160; &# 160; 60; 0; ; 28.243 & #160; &# 160; 27.825 &# 160; 60; 27.066 60; 0; 26.466
60; 29.168 &#
160;
60;
0;
;
&
#160; &#
160; 27.993 &#
160;
60; 26.732
CY Holiday oil production
(Million barrels) & #160; &# 160; 60; 0; ; 7.679 &# 160; 60; 5.759 0; ; 4.262 & #160; &# 160; 4.251
60; 7.895 60; 0; ; & #160; &# 160; 60; 6.071 0; ; 3.695 & #160; &# 160; 3.596
CY Henry Hub price ($/MCF) & #160; &# 160; 60; 0; $4.41 &# 160; 60; $3.73 0; ; $3.86 & #160; &# 160; $4.25
60; $4.37 60; 0; ; & #160; &# 160; 60; $2.89 0; ; $3.20 & #160; &# 160; $3.64
CY Montana natural gas price ratio 60; 0; ; 0.76 60; 0; 0.76 & #160; &# 160; 0.76 0; ; 0.76
60; 0.77 0; ; & #160; &# 160; 60; 0; ;0.77 & #160; &# 160; 0.77 0; ; 0.77
CY Total natural gas production
(Million MCFs) & #160; &# 160; 60; 0; ; < /span>52.671 & #160; &# 160; 43.989 &# 160; 60; 35.184 60; 0; 28.778
60; 64.601 &#
160;
60;
0;
;
&
#160; &#
160; 56.692 &#
160;
60; 48.711
CY Holiday natural gas production
(Million MCFs) & #160; &# 160; 60; 0; ; & #160; 6.156 &# 160; 60; 4.360 0; ; 2.450 & #160; &# 160; 2.417
60; 6.107 60; 0; ; & #160; &# 160; 60; 4.580 0; ; 2.546 & #160; &# 160; 2.439
CY Number of oil rigs 60; 0; ; & #160; &# 160; 10 0; ; 10 60; 0; 10&# 160; 60; 0; 10
60; 5 & #160; &# 160; 60; 0; ; & #160; 5 & #160; &# 160; 5< span> & #160; &# 160; 5
FY RTIC Adjustment (Millions) ; & #160; &# 160; 60; 0; ; $1.076 ; $4.400 & #160; $5.756< /span>
Insurance Tax & License Fees
FY Long-term interest rates &# 160; 60; 0; ; & #160; & #160; &# 160; 4.02% & #160; &# 160; 4.55% &# 160; 60; 5.07%
60; 0; ; & #160; &# 160; 60; 0; ; 3.61% &# 160; 60; 3.94% 60; 0; 4.70 %
FY Montana housing sales (Thousands) &# 160; 60; 0; ; ; & #160;21.459 & #160; &# 160; 22.839 &# 160; 60; 22.937
60; 0; ; & #160; &# 160; 60; 0; ; 21.309 &# 160; 60; 22.182 60; 0; 22.495
FY S&P 500 index &# 160; 60; 0; ; & #160; &# 160; &# 160; 60; 2,028 &# 160; 60; 2,131 0; ; 2,208< /span>
60; 0; ; & #160; &# 160; 60; 0; ; 2,045 60; 0; 2,170 ; < /span>2,248
Video Gambling Tax
FY Montana personal income
(Millions)
;
&
#160; &#
160; &#
160;
60;$42,366
&
#160; $44,082
&
#160; $46,518
60; 0; ; & #160; &# 160; 60; 0; ; $42,075 & #160; &# 160; $43,537 & #160; &# 160; $45,723
FY Montana population (Millions) ; & #160; &# 160; 60; 60; 0; ; 1.030 & #160; 1.039 &# 160; 60; 1.04 8
Other Business Taxes
Driver's License Fee
CY Montana population
age 16 and over (Millions) ; & #160; &# 160; 60; 0; 0; ; 0.833 &# 160; 60; 0.841 0; ; 0.848< /span>
60; 0; ; & #160; &# 160; 60; 0; ; 0.832 60; 0; 0.840 ; < /span>0.847
Investment License Fee
FY CPI index &# 160; 60; 0; ; & #160; &# 160; 60; 60; 0; 2.379 &# 160; 60; 2.409 0; ; 2.453< /span>
60; 0; ; & #160; &# 160; 60; 0; ; 2.358 60; 0; 2.372 ; < /span>2.431
FY S&P 500 index &# 160; 60; 0; ; & #160; &# 160; &# 160; 60; 2,028 &# 160; 60; 2,131 0; ; 2,208< /span>
60; 0; ; & #160; &# 160; 60; 0; ; 2,045 60; 0; 2,170 ; < /span>2,248
Lodging Taxes
FY US personal income
(Millions)
;
&
#160; &#
160;
60;
60;
0; $15,091
FY CONSUMER SPENDING ON ACCOMMODATIONS (BILLIONS) --< span> & #160; &# 160; $116 60; 0; $123 & #160; &# 160; $128
FY JOINT SUBCOMMITTEE ADJUSTMENT (MILLIONS) &# 160; 60; -- &# 160; 60; $0.339 60; 0; $0.90 4 & #160;$2.051
Public Contractors Tax
FY Highway payments
(Millions)
;
&
#160; &#
160;
60;
60;
0;
; $350 &
#160; &#
160; $359
FY Other payments (Millions) ; & #160; &# 160; 60; 0; 0; ; $250 & #160; &# 160; 60; $250 0; ; $250
Railroad Car Tax
FY Montana retail sales,
lagged 2 years (Millions) ; & #160; &# 160; 60; 0; 0; ; $17,303 & #160; $17,857 & #160; $18,615
60; 0; ; & #160; &# 160; 60; 0; ; $17,303 & #160; &# 160; $17,890 & #160; &# 160; $18,437
Rental Car Sales Tax
FY Montana retail sales (Millions) ; & #160; &# 160; 60; 60; 0; $18,615 & #160; $19,403 & #160; $20,340
60; 0; ; & #160; &# 160; 60; 0; ; $18,437 & #160; &# 160; $19,000 & #160; &# 160; $20,046
Telecommunications Excise Tax
FY Montana population
age 16 and over (Millions) ; & #160; &# 160; 60; 0; 0; ; 0.829 &# 160; 60; 0.837 0; ; 0.844< /span>
60; 0; ; & #160; &# 160; 60; 0; ; 0.828 60; 0; 0.836 ; < /span>0.843
CY Landline % 0; ; & #160; &# 160; 60; 0; 73% & #160; &# 160;71% 0; ; 70% & #160; &# 160; 60; 69%
CY Cell Phone % 0; ; & #160; &# 160; 60; 0;93% & #160; 94% 60; 0; ; 95% & #160; &# 160; 95%
CY Prepaid smartphone penetration 60; 0; ; 32% &# 160; 60; 0; 35% & #160; 4 0% 60; 0; 40%
Other Natural Resource Taxes
Coal Severance Tax
CY Price ($/ton) & #160; &# 160; 60; 0; ; $12.46 & #160; &# 160; $12.66 &# 160; 60; $12.80 60; 0; $13.04
60; $12.37 &#
160;
60;
0;
;
&
#160; &#
160; $12.39 &#
160;
60; $12.61
CY Production (Million tons) &# 160; 60; 0; ; 36.313 & #160; &# 160; 37.359 &# 160; 60; 37.810 60; 0; 38.465
60; 37.313 &#
160;
60;
0;
;
&
#160; &#
160; 38.159 &#
160;
60; 38.410
Electrical Energy Tax
FY Taxable Production (kwh) &# 160; 60; 0; ; & #160; & #160; &# 160; 23,606 & #160; &# 160; 23,541 &# 160; 60; 23,480
60; 0; ; & #160; &# 160; 60; 0; ; 23,691 &# 160; 60; 22,900 60; 0; 22,763
Metalliferous Mines Tax
CY Price: Copper ($/lb) &# 160; 60; 0; ; & #160; $3.30 &# 160; 60; $3.30 0; ; $3.30 & #160; &# 160; $3.30
60; --
&
#160; &#
160;
60;
0;
;
&
#160; $3.03 &#
160;
60; $3.10
CY Price: Silver ($/oz) & #160; &# 160; 60; 0; ; $19 60; 0; $19< span> & #160; &# 160; $19 0; ; $19
60; -- & #160; &# 160; 60; 0; ; & #160; $19 60; 0; $19.6 3 & #160;$19.81
CY Price: Gold ($/oz) & #160; &# 160; 60; 0; ; $1,100 & #160; &# 160; $1,100 &# 160; 60; $1,100 60; 0; $1,100
60; -- & #160; &# 160; 60; 0; ; < /span>$1,264 & #160; &# 160; $1,283 &# 160; 60; $1,270
CY Price: Moly ($/lb) &# 160; 60; 0; ; & #160; $10 60; 0; ; $10 &# 160; 60; 0; $10 & #160; &# 160; $10
CY Price: Palladium ($/oz) & #160; &# 160; 60; 0; ; $650 &# 160; 60; $650 0; ; $650 & #160; &# 160; $650
60; -- & #160; &# 160; 60; 0; ; & #160; $859 &# 160; 60; $883 & #160; $898
CY Price: Platinum ($/oz) & #160; &# 160; 60; 0; ; $1,400 & #160; &# 160; $1,400 &# 160; 60; $1,350 60; 0; $1,300
60; -- & #160; &# 160; 60; 0; ; < /span>$1,409 & #160; &# 160; $1,469 &# 160; 60; $1,481
Production & #160; &# 160; 60; 0; ; & #160; &# 160; &# 160; 60; 0; 0; ; Production of various metals is obtained by surveys & kept confidential
U.S. Mineral Royalty
FFY Oil price ($/barrel) 0; ; & #160; &# 160; 60;$93.38 & #160; &# 160; $74.07 &# 160; 60; $73.11 60; 0; $79.62
60; -- & #160; &# 160; 60; 0; ; < /span>$45.16 & #160; &# 160; $47.92 &# 160; 60; $59.73
FFY Oil production (Million barrels) & #160; &# 160; 60; 2.212 &# 160; 60; 1.973 0; ; 1.734 & #160; &# 160; 1.495
60; --
&
#160; &#
160;
60;
0;
;
&
#160; 2.170 &#
160;
60; 1.961
FFY Coal price ($/ton) & #160; &# 160; 60; 0; ; $16.38 & #160; &# 160; $16.48 &# 160; 60; $16.71 60; 0; $17.39
60; -- & #160; &# 160; 60; 0; ; < /span>$17.03 & #160; &# 160; $17.28 &# 160; 60; $18.04
FFY Coal production (Million tons) &# 160; 60; 0; ; 20.090 & #160; &# 160; 20.350 &# 160; 60; 18.895 60; 0; 19.097
60; -- & #160; &# 160; 60; 0; ; < /span>21.003 & #160; &# 160; 19.335 &# 160; 60; 19.380
FFY Natural gas price ($/MCF) & #160; &# 160; 60; 0; $3.50 &# 160; 60; $2.99 0; ; $3.04 & #160; &# 160; $3.30
60; --
&
#160; &#
160;
60;
0;
;
&
#160; $2.96 &#
160;
60; $2.97
FFY Natural gas production
(Million MCFs) & #160; &# 160; 60; 0; ; & #160; 9.793 &# 160; 60; 7.508 0; ; 5.223 & #160; &# 160; 5.223
60; --
&
#160; &#
160;
60;
0;
;
&
#160; 9.609 &#
160;
60; 7.849
FY Rent and bonus payments (Millions) ; & #160; &# 160; &# 160; 60; 0; $5.571 & #160; &# 160; $5.571 &# 160; 60; $5.571
60; 0; ; & #160; &# 160; 60; 0; ; $10.374 & #160; &# 160; $10.374 & #160; &# 160; $10.374
Wholesale Energy Tax
FY Production (kwh) &# 160; 60; 0; ; & #160; &# 160; &# 160; 60; 25,102 & #160; &# 160; 24,938 &# 160; 60; 24,790
60; 0; ; & #160; &# 160; 60; 0; ; 24,897 &# 160; 60; 24,701 60; 0; 24,491
Other Interest Earnings
Coal Trust Fund
FY Short-term interest rates &# 160; 60; 0; ; & #160; & #160; &# 160; 0.28% & #160; &# 160; 1.10% &# 160; 60; 2.52%
60; 0; ; & #160; &# 160; 60; 0; ; 0.25% &# 160; 60; 1.02% 60; 0; 2.45 %
FY Long-term interest rates &# 160; 60; 0; ; & #160; & #160; &# 160; 4.02% & #160; &# 160; 4.55% &# 160; 60; 5.07%
60; 0; ; & #160; &# 160; 60; 0; ; 3.61% &# 160; 60; 3.94% 60; 0; 4.70 %
Treasury Cash Account Interest
FY Short-term interest rates &# 160; 60; 0; ; & #160; & #160; &# 160; 0.28% & #160; &# 160; 1.10% &# 160; 60; 2.52%
60; 0; ; & #160; &# 160; 60; 0; ; 0.25% &# 160; 60; 1.02% 60; 0; 2.45 %
FY Average balance (Millions) ; & #160; &# 160; 60; 0; 0; ;$860.561 0; ;$870.862 60; $881.643
60; 0; ; & #160; &# 160; 60; 0; ;$823.043 & #160; $837.161 ; $847.952
Other Consumption Taxes
Beer Tax
FY Montana per capita income (Thousands) &# 160; 60; 0; ; ; $56.651 & #160; $58.925 & #160; $61.200
60; 0; ; & #160; &# 160; 60; 0; ; $55.648 & #160; &# 160; $57.859 & #160; &# 160; $60.046
CY Montana population
age 21 and above (Millions) ; & #160; &# 160; 60; 0; 0; ; 0.768 &# 160; 60; 0.776 0; ; 0.783< /span>
60; 0; ; & #160; &# 160; 60; 0; ; 0.767 60; 0; 0.775 ; < /span>0.782
FY Montana retail sales (Millions) ; & #160; &# 160; 60; 60; 0; $18,615 & #160; $19,403 & #160; $20,340
60; 0; ; & #160; &# 160; 60; 0; ; $18,437 & #160; &# 160; $19,000 & #160; &# 160; $20,046
Cigarette Tax
FY Consumer spending on tobacco (Millions) ; & #160; &# 160; &# 160; 60;$105.242 0; ;$106.805 60; $108.512
60; 0; ; & #160; &# 160; 60; 0; ;$108.053 & #160; $108.972 ; $111.247
FY CPI for tobacco & #160; &# 160; 60; 0; ; & #160; &# 160; 125 60; 0; 130 & #160; &# 160; 60; 137
60;
0;
;
&
#160; &#
160;
60;
0;
; 126
0;
; 130 &#
160;
60; 137
Liquor Excise & License Tax
FY Liquor sales (Millions) ; & #160; &# 160; 60; 0; 0; ; 8.724 &# 160; 60; 8.979 0; ; 9.234< /span>
60; 0; ; & #160; &# 160; 60; 0; ; 8.468 60; 0; 8.724 ; < /span>8.979
FY CPI index growth & #160; &# 160; 60; 0; ; & #160; & #160; &# 160; 1.23% & #160; &# 160; 1.29% &# 160; 60; 1.83%
60; 0; ; & #160; &# 160; 60; 0; ; 0.36% &# 160; 60; 0.60% 60; 0; 2.47 %
Liquor Profits
FY Liquor sales (Millions) ; & #160; &# 160; 60; 0; 0; ; 8.724 &# 160; 60; 8.979 0; ; 9.234< /span>
60; 0; ; & #160; &# 160; 60; 0; ; 8.468 60; 0; 8.724 ; < /span>8.979
FY CPI index growth & #160; &# 160; 60; 0; ; & #160; & #160; &# 160; 1.23% & #160; &# 160; 1.29% &# 160; 60; 1.83%
60; 0; ; & #160; &# 160; 60; 0; ; 0.36% &# 160; 60; 0.60% 60; 0; 2.47 %
Lottery Profits
FY Montana retail sales (Millions) ; & #160; &# 160; 60; 60; 0; $18,615 & #160; $19,403 & #160; $20,340
60; 0; ; & #160; &# 160; 60; 0; ; $18,437 & #160; &# 160; $19,000 & #160; &# 160; $20,046
FY Short-term interest rates &# 160; 60; 0; ; & #160; & #160; &# 160; 0.28% & #160; &# 160; 1.10% &# 160; 60; 2.52%
60; 0; ; & #160; &# 160; 60; 0; ; 0.25% &# 160; 60; 1.02% 60; 0; 2.45 %
Tobacco Tax
CY Montana population
age 18 and above (Millions) ; & #160; &# 160; 60; 0; 0; ; 0.808 &# 160; 60; 0.815 0; ; 0.822< /span>
60; 0; ; & #160; &# 160; 60; 0; ; 0.807 60; 0; 0.814 ; < /span>0.822
FY Montana retail sales (Millions) ; & #160; &# 160; 60; 60; 0; $18,615 & #160; $19,403 & #160; $20,340
60; 0; ; & #160; &# 160; 60; 0; ; $18,437 & #160; &# 160; $19,000 & #160; &# 160; $20,046
Wine Tax
CY Montana population
age 21 and above (Millions) ; & #160; &# 160; 60; 0; 0; ; 0.768 &# 160; 60; 0.776 0; ; 0.783< /span>
60; 0; ; & #160; &# 160; 60; 0; ; 0.767 60; 0; 0.775 ; < /span>0.782
Other Sources
All Other Revenue
FY Time series & #160; &# 160; 60; 0; ; & #160; & #160; &# 160; 60; 2015 0; ; 2016< span> & #160; &# 160; 2017
Highway Patrol Fines
CY Montana population age 16 and over (Millions) ; & #160; & #160; &# 160; 0.833 &# 160; 60; 0.841 0; ; 0.848
60; 0; ; & #160; &# 160; 60; 0; ; 0.832 60; 0; 0.840 ; & #160; 0.847
Nursing Facilities Fee
FY Time series & #160; &# 160; 60; 0; ; & #160; & #160; &# 160; 60; 2015 0; ; 2016< span> & #160; &# 160; 2017
Public Institution Reimbursements
FY Total average daily population 60; 0; ; & #160; & #160; &# 160; 60;452 60; 0; 450< span> & #160; &# 160; 447
60;
0;
;
&
#160; &#
160;
60;
0;
; 452
0;
; 451 &#
160;
60; 448
CY Federal Medicare payments
(Billions) &# 160; 60; 0; ; & #160; &# 160; 60; $589 &# 160; 60; $614 0; ; $646 & #160; &# 160; $682
60; $588 60; 0; ; & #160; &# 160; 60; $603 0; ; $630 & #160; &# 160; $664
CY Montana per capita
personal income
($)
0;
;
&
#160; &#
160; $40,545
&
#160; $41,680
&
#160; $43,322
&
#160; $45,502
60; $40,539 & #160; &# 160; 60; 0; ; $41,287 & #160; $42,718 & #160; $44,712
CY State & local medical
spending (Billions) ; & #160; &# 160; 60; 0; $513 &# 160; 60; $563 0; ; $588 & #160; &# 160; $619
60; $503 60; 0; ; & #160; &# 160; 60; $536 0; ; $565 & #160; &# 160; $592
CY US per capita personal
income ($) 0; ; & #160; &# 160; 60; 0;$46,285 & #160; $47,916 & #160; $49,912 & #160; $52,313
60; $46,166 & #160; &# 160; 60; 0; ; $47,559 & #160; $49,361 & #160; $51,538
Tobacco Settlement
FY Volume (Millions) ; & #160; &# 160; 60; 0; ; 0.235 & #160; &# 160; 0.225 0; ; 0.216
FY Inflation Adjustment 60; 0; ; & #160; &# 160; &# 160; 60; 0; 3.0% & #160; 3.0%&# 160; 60; 0; 3.0%
SELECTED NONGENERAL FUND REVENUE
The estimates for selected nongeneral fund revenue for fiscal year 2015 and the 2016-2017 biennium are based on the assumption of a continuation of Montana law as it existed on January 1, 2015. 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, 2017 Biennium, Volume 2 -- Revenue Estimates" prepared by the Legislative Fiscal Division.
Current Law
Selected Nongeneral Fund Revenue Estimates
(In Millions of Dollars)
60; 0; ; & #160; &# 160; 60; 0; ; Actual & #160; Estimated 0; ; Estimated &# 160; 60; Estimated
Source of Revenue ; & #160; &# 160; 60; 0; FY 2014 &# 160; 60;FY 2015 &# 160; 60;FY 2016 &# 160; 60;FY 2017
Property Tax: 6 Mill 60; 0; ; & #160; &# 160; 16.156 & #160; &# 160; 16.006 &# 160; 60; 15.9 14 0; ; 16.613
60; 0; ; & #160; &# 160; 60; 0; ; 16.156 &# 160; 60; 16.031 60; 0; 15.77 5 & #160; 16.432
Natural Resource Taxes & #160; &# 160; 60; 0; ; ; & #160; &# 160; 60; 0;
Federal Forest Receipts ; & #160; &# 160; 60; 18.675 0; ; 2.137 & #160; &# 160;2.053 60; 0; 2.017
Resource Indemnity Tax 60; 0; ; & #160; 2.279 &# 160; 60; 2.402 0; ; 2.492 & #160; &# 160; 2.565
60; 0; ; & #160; &# 160; 60; 0; ; 2.279 60; 0; 2.419 ; & #160; 2.505 &# 160; 60; 2.559
Natural Resource Taxes Subtotal 0; ; & #160; 20.954 & #160; &# 160; 4.539 60; 0; ; 4.546 & #160; 4.582
60; 0; ; & #160; &# 160; 60; 0; ; 20.954 &# 160; 60; 4.556 0; ; 4.559 & #160; &# 160; 4.576
Interest Earnings 0; ; & #160; &# 160; 60; 0; 0; ; & #160; &# 160;
Capital Land Grant Interest and Income & #160; &# 160; 60; 0.666 0; ; 0.892 & #160; &# 160; 1.044 60; 0; 0.880
Common School Interest and Income & #160; &# 160; 60; 49.676 & #160; &# 160; 50.688 &# 160; 60; 49.6 73 0; ; 48.952
60; 0; ; & #160; &# 160; 60; 0; ; 49.676 &# 160; 60; 50.182 60; 0; 48.82 5 & #160; 48.362
Cultural Trust Interest & #160; &# 160; 60; 0; ; 0.504 & #160; 0.501 60; 0; 0.485 ; & #160;0.472
60; 0; ; & #160; &# 160; 60; 0; ; & #160; &# 160; &# 160; 60; 0; 0; ; 0.471
Deaf & Blind Interest and Income & #160; &# 160; 60; 0.275 &# 160; 60; 0.287 0; ; 0.290 & #160; &# 160; 0.285
60; 0; ; & #160; &# 160; 60; 0; ; 0.275 60; 0; 0.286 ; & #160; 0.288 &# 160; 60; 0.284
Economic Development Trust &# 160; 60; 0; ; 2.822 &# 160; 60; 3.090 0; ; 3.265 & #160; &# 160; 3.478
60; 0; ; & #160; &# 160; 60; 0; ; 2.822 60; 0; 3.090 ; & #160; 3.256 &# 160; 60; 3.471
Parks Trust Interest & #160; &# 160; 60; 0; ; 0.906 &# 160; 60; 0.911 0; ; 0.892 & #160; &# 160; 0.876
60; 0; ; & #160; &# 160; 60; 0; ; 0.906 60; 0; 0.911 ; & #160; 0.891 &# 160; 60; 0.875
Pine Hills Interest and Income & #160; &# 160; 60; 0; 0.345 &# 160; 60; 0.388 0; ; 0.396 & #160; &# 160; 0.401
60; 0; ; & #160; &# 160; 60; 0; ; 0.345 60; 0; 0.387 ; & #160; 0.394 &# 160; 60; 0.400
Regional Water Trust Interest & #160; &# 160; 60; 0; 2.993 &# 160; 60; 3.207 0; ; 3.269 & #160; &# 160; 60; -
60; 0; ; & #160; &# 160; 60; 0; ; 2.993 60; 0; 3.210 ; & #160; 3.267 &# 160; 60; 0; --
Resource Indemnity Trust
Interest
&
#160; &#
160;
60; 4.296
Tobacco Trust Interest & #160; &# 160; 60; 0; ; 6.592 &# 160; 60; 7.041 0; ; 7.175 & #160; &# 160; 7.278
60; 0; ; & #160; &# 160; 60; 0; ; 6.592 60; 0; 7.040 ; & #160; 7.174 &# 160; 60; 7.277
Treasure State Endowment Trust
Interest 60; 0; ; & #160; &# 160; 60; 0; 9.356 &# 160; 60; 9.708 0; ; 9.852 & #160; &# 160; 10.088
60; 0; ; & #160; &# 160; 60; 0; ; 9.356 60; 0; 9.708 ; & #160; 9.836 &# 160; 60; 10.074
Interest Earnings Subtotal 0; ; & #160; &# 160; 78.432 & #160; &# 160; 80.755 &# 160; 60; 80.1 28 0; ; 76.238
60; 0; ; & #160; &# 160; 60; 0; ; 78.432 &# 160; 60; 80.250 60; 0; 79.24 7 & #160; 75.623
Consumption Taxes & #160; &# 160; 60; 0; ; & #160; &# 160; &# 160; 60; 0;
Diesel Tax 60; 0; ; & #160; &# 160; 60; 72.609 60; 0; ;73.471 ; 73.818 & #160; 75.043
Diesel Storage Tank Tax 60; 0; ; & #160; 2.951 60; 0; 2.941 ; & #160;2.933 &# 160; 60; 2.931
Gasoline Tax 60; 0; ; & #160; &# 160; 60; 135.817 & #160; 133.539 & #160; 132.515 & #160; 132.135
60; 0; ; & #160; &# 160; 60; 0; 135.817 & #160; &# 160; 138.917 & #160; &# 160; 137.455 & #160; &# 160; 139.183
Gasoline Storage Tank Tax 60; 0; ; & #160; 3.836 &# 160; 60; 0; 3.771 ; 3.742& #160; &# 160; 60; 3.732
GVW and Other Fees &# 160; 60; 0; ; & #160; 35.923 & #160; &# 160; 36.467 &# 160; 60; 0;37.031 0; ; 37.595
Consumption Taxes Subtotal 0; ; & #160; 251.136 & #160; 250.188 & #160; 250.040 & #160; 251.436
60; 0; ; & #160; &# 160; 60; 0; 251.136 & #160; &# 160; 255.567 & #160; &# 160; 254.980 & #160; &# 160; 258.484
Total of Selected Nongeneral
Fund
Sources
0;
;
&
#160; &#
160;
60;
60; 0; ; & #160; &# 160; 60; 0; $366.678 & #160; $356.403 ; $354.560 60; 0; $355.115
SELECTED ASSUMPTIONS FOR NONGENERAL FUND REVENUE ESTIMATES
Year Assumption & #160; &# 160; 60; 0; ; & #160; &# 160; 2015 60; 0; ; 2016 & #160; &# 160; 60; 2017
Property Tax: 6 Mill
FY Taxable Value (Millions) ; & #160; &# 160; 60; $2,543.202 60; 0; $2,52 8.206 &# 160; 60; $2,632.994
60; $2,588.389 0; ; & #160; &# 160; 60; 0; $2,539.556 & #160; $2,646.896
FY Abatement value (Millions) ; & #160; &# 160; 60; 0;$20.855 & #160; &# 160; $20.723 & #160; &# 160; 60; $21.581
60; $20.855 & #160; &# 160; 60; 0; ; & #160; $20.463 & #160; &# 160; 60; $21.315
FY TIF Value (Millions) ; & #160; &# 160; 60; 0; $49.385 & #160; &# 160; $49.821 & #160; &# 160; 60; $51.069
60; $45.187 & #160; &# 160; 60; 0; ; & #160; $44.216 & #160; &# 160; 60; $47.541
Natural Resource Taxes
Federal Forest Receipts
FY Total Montana Receipts (Millions) ; & #160; &# 160; 60; $8.060 60; 0; ; $8.060 ; & #160; $8.060
Resource Indemnity Tax
FY Coal Receipts (Millions) ; & #160; &# 160; 60; 0; $2.085 & #160; &# 160; 60; $2.175 60; 0; ; $2.247
60; $2.104 &# 160; 60; 0; ; & #160; &# 160; 60; $2.188 60; 0; ; $2.241
FY Other Receipts (Millions) ; & #160; &# 160; 60; 0; $0.317 0; ; $0.317 & #160; &# 160;$0.317
Interest Earnings
Capital Land Grant Interest and Income
FY Lease Total (Millions) ; & #160; &# 160; 60; 0; $0.69 8 & #160; &# 160; $0.742 &# 160; 60; 0; $0.754
FY Permanent Fund Total (Millions) ; & #160; &# 160; 60; $1.063 60; 0; ; $1.159 & #160; $0.998
FY Administration Costs (Millions) ; & #160; &# 160; 60; -$0.869 &# 160; 60; 0; -$0.8 57 0; ; -$0.871
Common School Interest and Income
FY TFBP Long-Term Interest Rate &# 160; 60; 0; ; 3.80% & #160; &# 160; 60;3.60% 60; 0; ; 3.40%
FY Short-Term Interest Rate &# 160; 60; 0; ; & #160; 0.28% & #160; &# 160; 60; 1.10% 60; 0; ; 2.52%
60; 0.25% &# 160; 60; 0; ; & #160; &# 160; 60; 1.02% 60; 0; ; 2.45%
Cultural Trust Interest
FY TFBP Long-Term Interest Rate &# 160; 60; 0; ; 3.65% & #160; &# 160; 60; 3.43% 60; 0; ; 3.61%
60; 3.87% &# 160; 60; 0; ; & #160; &# 160; 60; 3.65% 60; 0; ; 3.43%
FY Short-Term Interest Rate &# 160; 60; 0; ; & #160; 0.28% & #160; &# 160; 60; 1.10% 60; 0; ; 2.52%
60; 0.25% &# 160; 60; 0; ; & #160; &# 160; 60; 1.02% 60; 0; ; 2.45%
Deaf & Blind Interest and Income
FY TFBP Long-Term Interest Rate &# 160; 60; 0; ; 3.80% & #160; &# 160; 60;3.60% 60; 0; ; 3.40%
FY Short-Term Interest Rate &# 160; 60; 0; ; & #160; 0.28% & #160; &# 160; 60; 1.10% 60; 0; ; 2.52%
60; 0.25% &# 160; 60; 0; ; & #160; &# 160; 60; 1.02% 60; 0; ; 2.45%
Economic Development Trust
FY TFBP Long-Term Interest Rate &# 160; 60; 0; ; 3.63% & #160; &# 160; 60;3.47% 60; 0; ; 3.30%
FY Short-Term Interest Rate &# 160; 60; 0; ; & #160; 0.28% & #160; &# 160; 60; 1.10% 60; 0; ; 2.52%
60; 0.25% &# 160; 60; 0; ; & #160; &# 160; 60; 1.02% 60; 0; ; 2.45%
Parks Trust Interest
FY TFBP Long-Term Interest Rate &# 160; 60; 0; ; 4.10% & #160; &# 160; 60; 3.87% 60; 0; ; 3.65%
60; 3.87% &# 160; 60; 0; ; & #160; &# 160; 60; 3.65% 60; 0; ; 3.43%
FY Short-Term Interest Rate &# 160; 60; 0; ; & #160; 0.28% & #160; &# 160; 60; 1.10% 60; 0; ; 2.52%
60; 0.25% &# 160; 60; 0; ; & #160; &# 160; 60; 1.02% 60; 0; ; 2.45%
Pine Hills Interest and Income
FY TFBP Long-Term Interest Rate &# 160; 60; 0; ; 3.80% & #160; &# 160; 60;3.60% 60; 0; ; 3.40%
FY Short-Term Interest Rate &# 160; 60; 0; ; & #160; 0.28% & #160; &# 160; 60; 1.10% 60; 0; ; 2.52%
60; 0.25% &# 160; 60; 0; ; & #160; &# 160; 60; 1.02% 60; 0; ; 2.45%
Regional Water Trust Interest
FY TFBP Long-Term Interest Rate &# 160; 60; 0; ; 3.74% & #160; &# 160; 60;3.54% 60; 0; ; 3.36%
FY Short-Term Interest Rate &# 160; 60; 0; ; & #160; 0.28% & #160; &# 160; 60; 1.10% 60; 0; ; 2.52%
60; 0.25% &# 160; 60; 0; ; & #160; &# 160; 60; 1.02% 60; 0; ; 2.45%
Resource Indemnity Trust Interest
FY TFBP Long-Term Interest Rate &# 160; 60; 0; ; 4.04% & #160; &# 160; 60;3.79% 60; 0; ; 3.53%
FY Short-Term Interest Rate &# 160; 60; 0; ; & #160; 0.28% & #160; &# 160; 60; 1.10% 60; 0; ; 2.52%
60; 0.25% &# 160; 60; 0; ; & #160; &# 160; 60; 1.02% 60; 0; ; 2.45%
Tobacco Trust Interest
FY TFBP Long-Term Interest Rate &# 160; 60; 0; ; 3.60% & #160; &# 160; 60;3.45% 60; 0; ; 3.29%
FY Short-Term Interest Rate &# 160; 60; 0; ; & #160; 0.28% & #160; &# 160; 60; 1.10% 60; 0; ; 2.52%
60; 0.25% &# 160; 60; 0; ; & #160; &# 160; 60; 1.02% 60; 0; ; 2.45%
Treasure State Endowment Trust Interest
FY TFBP Long-Term Interest Rate &# 160; 60; 0; ; 3.74% & #160; &# 160; 60;3.54% 60; 0; ; 3.36%
FY Short-Term Interest Rate &# 160; 60; 0; ; & #160; 0.28% & #160; &# 160; 60; 1.10% 60; 0; ; 2.52%
& #160; 0.25% &# 160; 60; 0; ; & #160; &# 160; 60; 1.02% 60; 0; ; 2.45%
Consumption Taxes
Diesel Tax
FY Time Series & #160; &# 160; 60; 0; ; & #160; &# 160; 2015 60; 0; ; 2016< span> & #160; &# 160; 60; 2017
Diesel Storage Tank Tax
FY Time Series & #160; &# 160; 60; 0; ; & #160; &# 160; 2015 60; 0; ; 2016< span> & #160; &# 160; 60; 2017
Gasoline Tax
FY Time Series & #160; &# 160; 60; 0; ; & #160; &# 160; 2015 60; 0; ; 2016< span> & #160; &# 160; 60; 2017
Gasoline Storage Tank Tax
FY Time Series & #160; &# 160; 60; 0; ; & #160; &# 160; 2015 60; 0; ; 2016< span> & #160; &# 160; 60; 2017
GVW and Other Fees
FY Time Series & #160; &# 160; 60; 0; ; & #160; &# 160; 2015 60; 0; ; 2016< span> & #160; &# 160; 60; 2017
- END -
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