2017 Montana Legislature

Additional Bill Links     PDF (with line numbers)

HOUSE JOINT RESOLUTION NO. 2

INTRODUCED BY J. ESSMANN

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 2017 AND EACH FISCAL YEAR OF THE 2018-2019 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 2017, 2018, AND 2019.

 

     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 2017 and the 2018-2019 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 2017, 2018, and 2019 be estimated to be $2,194,337,000, $2,301,383,000, and $2,452,611,000 $2,212,592,186, $2,359,344,806, AND $2,476,395,000, respectively.

     BE IT FURTHER RESOLVED, that the Legislature accept for budget purposes the preliminary unassigned fiscal year 2016 fund balance of $255,110,000 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 2017, 2018, and 2019.

     GENERAL FUND REVENUE

The projections for general fund revenue for fiscal years 2017, 2018, and 2019 are based on the assumptions of the continuation of Montana and federal law as it existed on January 1, 2017. 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, 2019 Biennium, Volume 2 -- Revenue Estimates" prepared by the Legislative Fiscal Division.

          60;  Current Law

          60;  General Fund Revenue Estimates

          60;  (In Millions of Dollars)

          Actu al     Estimated     Esti mated     Estimated

Source of Revenue     FY 2016     FY 2017     FY 2018     FY 2019

Largest Seven Sources

Individual Income Tax           60;            0;             ;                                    & #160; 1,184.828                      1,219.776              1,291.208                  1,378.482

          60;            0;             ;                         & #160;           &# 160;            60;          60;            0;  1,184.828         ;              1,238.516        60;     1,320.815                & #160;1,404.438

Property Tax           60;            0;             ;                         & #160;          < span>           & #160;       257.100                         260.150                 279.620                     286.088

          60;            0;             ;                         & #160;           &# 160;            60;          60;            0;     257.100        & #160;           &# 160;   261.003     & #160;          2 77.119          & #160;        286.326

Corporate Income Tax           60;            0;             ;                                    & #160;    118.387                         140.308                 134.346                     164.575

          60;            0;             ;                         & #160;           &# 160;            60;          60;            0;     118.387        & #160;           &# 160;   139.952     & #160;          1 68.762          & #160;        171.748

Vehicle Taxes & Fees          &# 160;            60;            0;             ;           ;                  108.480                         109.200                 112.700                     117.500

          60;            0;             ;                         & #160;           &# 160;            60;          60;            0;     108.480        & #160;           &# 160;   110.844     & #160;          1 12.952          & #160;        114.509

Oil & Natural Gas Production Tax           60;            0;             ;           ;             39.083                         & #160; 44.821                   49.533                       54.875

          60;            0;             ;                         & #160;           &# 160;            60;          60;            0;       39.083        &# 160;            60;     45.289    60;            0;  49.939       0;             ;  48.914

Insurance Tax & License Fees          &# 160;            60;            0;          0;             ;      69.255                         & #160; 71.102                   72.951                       74.800

          60;            0;             ;                         & #160;           &# 160;            60;          60;            0;       69.255        &# 160;            60;     73.414    60;            0;  76.000       0;             ;  79.887

Video Gambling Tax           60;            0;             ;                                               60.554                         & #160; 62.522                   64.546                       65.801

          60;            0;             ;                         & #160;           &# 160;            60;          60;            0;       60.554        &# 160;            60;     59.280    60;            0;  61.904       0;             ;  64.516

Largest Seven Sources Subtotal         0;             ;                                1,837.687                      1,907.880             2,004.903                  2,142.122

          60;            0;             ;                         & #160;           &# 160;            60;          60;            0;  1,837.687         ;              1,928.299        60;     2,067.491                & #160;2,170.338

Other Business Taxes

Driver's License Fee           60;            0;             ;                         & #160;           &# 160;        4.345                         & #160;    4.539                   4.370                         & #160; 4.598

          60;            0;             ;                         & #160;           &# 160;            60;            0;             ;      4.345         60;            0;        4.938  ;                  4.341    & #160;           &# 160;        5.007

Investment License Fee           60;            0;             ;                         & #160;           &# 160;   7.212                         & #160;    7.433                   7.750                         & #160; 8.007

          60;            0;             ;                         & #160;           &# 160;            60;            0;             ;      7.212         60;            0;        7.454  ;                  7.660    & #160;           &# 160;        7.994

Lodging Taxes          & #160;           &# 160;            60;            0;             ;                         & #160;   21.493                         & #160;  22.978                 25.249                         27.659

          60;            0;             ;                         & #160;           &# 160;            60;            0;             ;    21.493        &# 160;            60;      22.196   60;            0; 23.399        0;             ;   24.771

Public Contractors Tax           60;            0;             ;                         & #160;           &# 160;    2.397                         & #160;    2.510                   2.580                         & #160; 2.664

          60;            0;             ;                         & #160;           &# 160;            60;            0;             ;      2.397         60;            0;        2.552  ;                  2.540    & #160;           &# 160;        2.527

Railroad Car Tax           60;            0;             ;                         & #160;           &# 160;            60; 3.594                         & #160;    3.437                   3.457                         & #160; 3.487

          60;            0;             ;                         & #160;           &# 160;            60;            0;             ;      3.594         60;            0;        3.387  ;                  3.642    & #160;           &# 160;        3.905

Rental Car Sales Tax           60;            0;             ;                         & #160;           &# 160;      3.878                         & #160;    3.282                   3.379                         & #160; 3.473

          60;            0;             ;                         & #160;           &# 160;            60;            0;             ;      3.878         60;            0;        3.310  ;                  3.357    & #160;           &# 160;        3.658

Telecommunications Excise Tax           60;            0;             ;                         16.775                         & #160;  16.165                 15.576                         15.009

          60;            0;             ;                         & #160;           &# 160;            60;            0;             ;    16.775        &# 160;            60;      16.089   60;            0; 15.570        0;             ;   14.966

Other Business Taxes Subtotal         0;             ;                         & #160;            59.694                         & #160;  60.344                 62.362                         64.897

          60;            0;             ;                         & #160;           &# 160;            60;            0;             ;    59.694        &# 160;            60;      59.926   60;            0; 60.508        0;         62.828      

Other Natural Resource Taxes                      & #160;           &# 160;            60;            0;             ;           ;                         & #160;         & #160;           &# 160;         &# 160;

Coal Severance Tax           60;            0;             ;                         & #160;           &# 160;      14.236                         & #160;  13.225                 15.650                         15.724

          60;            0;             ;                         & #160;           &# 160;            60;            0;             ;    14.236        &# 160;            60;    113.577    &# 160;           15.460          60;            0; 15.954

Electrical Energy Tax           60;            0;             ;                         & #160;           &# 160;       4.536                         & #160;    4.595                   4.709                         & #160; 4.634

          60;            0;             ;                         & #160;           &# 160;            60;            0;             ;      4.536         60;            0;        4.448  ;                  4.439    & #160;           &# 160;        4.524

Metalliferous Mines Tax           60;            0;             ;                         & #160;           &# 160;   4.221                         & #160;    4.129                   4.160                         & #160; 4.314

          60;            0;             ;                         & #160;           &# 160;            60;            0;             ;      4.221         60;            0;        4.410  ;                  4.274    & #160;           &# 160;        4.156

US Mineral Royalty                       & #160;           &# 160;            60;            0;             ;         16.759                         & #160;  19.610                 20.391                         20.924

          60;            0;             ;                         & #160;           &# 160;            60;            0;             ;    16.759        &# 160;            60;      19.249   60;            0; 20.497        0;             ;   21.229

Wholesale Energy Tax           60;            0;             ;                         & #160;           &# 160;    3.516                         & #160;    3.502                   3.406                         & #160; 3.366

          60;            0;             ;                         & #160;           &# 160;            60;            0;             ;      3.516         60;            0;        3.539  ;                  3.505    & #160;           &# 160;        3.537

Other Natural Resource Taxes Subtotal         0;             ;                        43.269                         & #160;  45.061                 48.315                         48.962

          60;            0;             ;                         & #160;           &# 160;            60;            0;             ;    43.269        &# 160;            60;      45.223   60;            0; 48.175        0;         49.401      

Other Interest Earnings         0;             ;                         & #160;           &# 160;            60;            0;          0;             ;                                    & #160;         & #160;

Coal Trust Interest                       & #160;           &# 160;            60;            0;             ;          20.722                         & #160;  19.893                 20.451                         20.955

          60;            0;             ;                         & #160;           &# 160;            60;            0;             ;    20.722        &# 160;            60;      19.963   60;            0; 20.329        0;             ;   20.307

Treasury Cash Account Interest                       & #160;           &# 160;            60;            0;   3.961                         & #160;    5.802                 10.487                         18.286

          60;            0;             ;                         & #160;           &# 160;            60;            0;             ;      3.961         60;            0;        4.274  ;                  7.577    & #160;           &# 160;      15.507

Other Interest Earnings Subtotal         0;             ;                         & #160;         24.683                         & #160;  25.695                 30.938                         39.241

          60;            0;             ;                         & #160;           &# 160;            60;            0;             ;    24.683        &# 160;            60;      24.237   60;            0; 27.906        0;         35.814      

Other Consumption Taxes                      & #160;           &# 160;            60;            0;             ;           ;                         & #160;                     &# 160;            60;     

Beer Tax           60;            0;             ;                         & #160;           &# 160;            60;            0;  3.027                         & #160;    3.029                   3.030                         & #160; 3.028

          60;            0;             ;                         & #160;           &# 160;            60;            0;             ;      3.027         60;            0;        3.051  ;                  3.059    & #160;           &# 160;        3.064

Cigarette Tax           60;            0;             ;                         & #160;           &# 160;            60;     31.103                         & #160;  30.980                 30.768                         30.534

          60;            0;             ;                         & #160;           &# 160;            60;            0;             ;    31.103        &# 160;            60;      30.924   60;            0; 30.718        0;             ;   30.529

Liquor Excise & License Tax           60;            0;             ;                         & #160;     19.776                         & #160;  20.596                 21.677                         22.683

          60;            0;             ;                         & #160;           &# 160;            60;            0;             ;    19.776        &# 160;            60;      21.359   60;            0; 22.265        0;             ;   23.218

Liquor Profits          & #160;           &# 160;            60;            0;             ;                         & #160;     11.000                         & #160;  11.777                 12.435                         13.085

          60;            0;             ;                         & #160;           &# 160;            60;            0;             ;    11.000        &# 160;            60;      11.500   60;            0; 12.000        0;             ;   12.500

Lottery Profits          & #160;           &# 160;            60;            0;             ;                         & #160;    11.963                         & #160;  11.549                 11.728                         12.188

          60;            0;             ;                         & #160;           &# 160;            60;            0;             ;    11.963        &# 160;            60;      12.363   60;            0; 12.363        0;             ;   12.363

Tobacco Tax           60;            0;             ;                         & #160;           &# 160;            60;        6.184                         & #160;    6.329                   6.461                         & #160; 6.593

          60;            0;             ;                         & #160;           &# 160;            60;            0;             ;      6.184         60;            0;        6.623  ;                  6.815    & #160;           &# 160;        6.999

Wine Tax           60;            0;             ;                         & #160;           &# 160;            60;            0; 2.373                         & #160;    2.412                   2.479                         & #160; 2.547

          60;            0;             ;                         & #160;           &# 160;            60;            0;             ;      2.373         60;            0;        2.484  ;                  2.584    & #160;           &# 160;        2.674

Other Consumption Taxes Subtotal         0;             ;                         & #160;    85.427                         & #160;  86.673                 88.577                         90.656

          60;            0;             ;                         & #160;           &# 160;            60;            0;             ;    85.427        &# 160;            60;      88.304   60;            0; 89.804        0;          91.34 8     

Other Sources         0;             ;                         & #160;           &# 160;            60;            0;             ;           ;                         & #160;         & #160;           &# 160;            60; 

All Other Revenue           ;                         & #160;           &# 160;            60;            0;          41.443                         & #160;  42.518                 43.292                         43.679

          60;            0;             ;                         & #160;           &# 160;            60;            0;             ;    41.443        &# 160;            60;      40.650   60;            0; 41.713        0;             ;   42.968

Highway Patrol Fines          &# 160;            60;            0;             ;                         & #160;       4.040                         & #160;    4.187                   4.244                         & #160; 4.293

          60;            0;             ;                         & #160;           &# 160;            60;            0;             ;      4.040         60;            0;        4.101  ;                  4.155    & #160;           &# 160;        4.193

Nursing Facilities Fee           60;            0;             ;                         & #160;           &# 160;      4.764                         & #160;    4.526                   4.276                         & #160; 4.244

          60;            0;             ;                         & #160;           &# 160;            60;            0;             ;      4.764         60;            0;        4.589  ;                  4.277    & #160;           &# 160;        4.181

Public Institution Reimbursements         0;             ;                         & #160;          16.910                         & #160;  14.083                 11.915                         12.017

          60;            0;             ;                         & #160;           &# 160;            60;            0;             ;    16.910        &# 160;            60;      14.162   60;            0; 12.694        0;             ;   12.725

Tobacco Settlement          60;            0;             ;                         & #160;           &# 160;          3.371                         & #160;    3.371                   2.561                         & #160; 2.500

          60;            0;             ;                         & #160;           &# 160;            60;            0;             ;      3.371         60;            0;        3.101  ;                  2.622    & #160;           &# 160;        2.599

Other Sources Subtotal         0;             ;                         & #160;           &# 160;            60; 70.529                         & #160;  68.685                 66.288                         66.733

          60;            0;             ;                         & #160;           &# 160;            60;            0;             ;    70.529        &# 160;            60;      66.602   60;            0; 65.460        0;             ;   66.667

Total General Fund         & #160;           &# 160;            60;            0;             ;              $2,121.288                     $2,194.337         $2,301.383                  $2,452.611

          60;            0;             ;                         & #160;           &# 160;            60;            0;         $2,121.288        0;             ;$2,212.592        & #160;$2,359.345        60;        $2,476.395

SIGNIFICANT ASSUMPTIONS FOR GENERAL FUND REVENUE ESTIMATES

Year      Assumption      60;    2016     2017 & #160;   2018     2019

Largest Seven Sources

     Individual Income Tax

CY     Wage & salary income growth          & #160;           &# 160;            60;            0;          3.2%        &# 160;            60;    4.0%     0;             ;     5.1%    & #160;           &# 160;        5.0%

          60;  3.3%         60;            0;             ;                         & #160;           &# 160;            60;           4.5%                       & #160;  5.3%      &# 160;            60;   5.2%

CY     Interest income growth          & #160;           &# 160;            60;            0;             ;         0.3%        &# 160;            60;    2.3%     0;             ;   11.2%                   & #160;    18.9%

          60;  0.4%         60;            0;             ;                         & #160;           &# 160;            60;           3.5%                       & #160;11.4%        & #160;           22.1%

CY     Dividend income growth          & #160;           &# 160;            60;            0;             ;      -4.5%        &# 160;            60;    1.1%     0;             ;     3.8%    & #160;           &# 160;        2.5%

          60;  -4.5%         60;            0;             ;                         & #160;           &# 160;            60;          2.2 %           0;             ;  5.8%       & #160;           &# 160;  5.1%

CY     Taxable refunds growth          & #160;           &# 160;            60;            0;             ;        3.1%        &# 160;            60;    3.1%     0;             ;     3.1%    & #160;           &# 160;        3.1%

          60;  3.5%         60;            0;             ;                         & #160;           &# 160;            60;           3.5%                       & #160;  3.5%      &# 160;            60;   3.5%

CY     Alimony received growth          & #160;           &# 160;            60;            0;             ;      4.0%   & #160;           &# 160;         4.0%            0;          4.0%                         & #160; 4.0%

CY     Net business growth          & #160;           &# 160;            60;            0;             ;              3.1%        &# 160;            60;   -2.2%      0;             ;    4.4%     & #160;           &# 160;       2.6%

          60;  2.5%         60;            0;             ;                         & #160;           &# 160;            60;          -3.0 %           0;             ;  6.0%       & #160;           &# 160;  2.6%

CY     Capital gains income growth          & #160;           &# 160;            60;            0;           -2.9%        &# 160;            60;   -1.4%      0;             ;    0.2%     & #160;           &# 160;       3.5%

          60;  1.0%         60;            0;             ;                         & #160;           &# 160;            60;           2.9%                       & #160; -1.2%       &# 160;            60;  3.6%

CY     Supplemental gains income growth          & #160;           &# 160;            60;            0;  0.0%                    & #160;     0.0%   &# 160;            60;      0.0%   0;             ;          0.0%

CY     Rents, royalties & partnership income growth          & #160;           &# 160;          5.0%        &# 160;            60;    5.0%     0;             ;     5.0%    & #160;           &# 160;        5.0%

          60;  4.0%         60;            0;             ;                         & #160;           &# 160;            60;           4.0%                       & #160;  4.0%      &# 160;            60;   4.0%

CY     IRA income growth          & #160;           &# 160;            60;            0;             ;                7.4%        &# 160;            60;    8.0%     0;             ;     6.8%    & #160;           &# 160;        6.1%

          60;  7.5%         60;            0;             ;                         & #160;           &# 160;            60;           8.9%                       & #160;  7.1%      &# 160;            60;   6.0%

CY     Taxable pension income growth          & #160;           &# 160;            60;            0;       6.1%        &# 160;            60;    6.2%     0;             ;     5.7%    & #160;           &# 160;        5.2%

          60;  6.2%         60;            0;             ;                         & #160;           &# 160;            60;           5.7%                       & #160;  6.0%      &# 160;            60;   5.2%

CY     Taxable social security income growth          & #160;           &# 160;            60;       10.0%  60;            0;         10.0%                     10.0%              & #160;         10.0%

CY     Farm income growth          & #160;           &# 160;            60;            0;             ;              0.0%        & #160;           &# 160;    0.0%     60;            0;     0.0%                 & #160;        0.0%

CY     Unemployment compensation growth          & #160;           &# 160;            60;          0.0 %           0;             ;  0.0%       & #160;           &# 160;  0.0%       60;            0;      0.0%

CY     Other income growth          & #160;           &# 160;            60;            0;             ;             0.0%         & #160;           &# 160;   0.0%      60;            0;    0.0%                  & #160;       0.0%

CY     Total additions (Millions)           ;                         & #160;           &# 160;            60;$539.904        0;           $557.705          60;     $575.506   & #160;           &# 160;   $593.307

          60;  $794.451                     & #160;           &# 160;            60;            0;             ;            $780.254          0;         $774.696           &# 160;   $772.239

CY     Total adjustments (Millions)           ;                         & #160;           &# 160;       $785.677        0;           $782.441          60;     $770.951   & #160;           &# 160;   $764.620

          60;  $543.258                     & #160;           &# 160;            60;            0;             ;            $564.809          0;         $587.542           &# 160;   $611.536

CY     Federal inflation factor          &# 160;            60;            0;             ;                       0.5%           &# 160;            60; 0.8%        0;             ;  2.5%       & #160;           &# 160;     2.5%

          60;            0;             ;                         & #160;           &# 160;            60;            0;             ;                                    & #160;           &# 160;         &# 160;            60;   1.9%

CY     State inflation factor          &# 160;            60;            0;             ;                         & #160; 1.0%        &# 160;            60;    2.6%     0;             ;     2.4%    & #160;           &# 160;        2.4%

          60;  1.0%         60;            0;             ;                         & #160;           &# 160;            60;           2.5%                       & #160;  1.9%      &# 160;            60;   2.5%

CY     Full-year resident adjustment          60;            0;             ;                     100.4%                     & #160;100.8%                   101.6%                       102.4%

          60;  100.5%        & #160;           &# 160;            60;            0;             ;                         & #160;   101.6%                  & #160;   102.6%                  & #160;103.5%

CY     Nonresident adjustment          60;            0;             ;                         & #160;    107.2%                 & #160;    107.2%                 & #160; 107.2%                    & #160; 107.2%

CY     Elderly homeowner/renter credits (Millions)           ;                         < /span>$7.424         & #160;           &# 160; $7.024       &# 160;           $6.624          60;            0; $6.224

CY     All other credits (Millions)           ;                         & #160;           &# 160;            60;$53.295                     & #160;$56.431                  $59.895                      $63.478

          60;  $53.570        & #160;           &# 160;            60;            0;             ;                         & #160;  $56.662                   & #160;  $59.779                   $63.490

FY     Audit, penalty & interest collections (Millions)           ;                         & #160;         & #160;           &# 160;     $45.708                  $48.404                      $51.545

          60;            0;             ;                         & #160;           &# 160;            60;            0;             ;  $45.997        & #160;           &# 160;$48.953        & #160;        $51.958

FY     RTIC Adjustment (Millions)           ;                         & #160;           &# 160;            60;                      0;        -$10.910&# 160;            60;   -$14.543     & #160;           &# 160; -$14.719

     Property Tax           60;            0;             ;                         & #160;           &# 160;            60;            0;          0;             ;                                    & #160;         < /span>

FY     Class 1 taxable value (Millions)           ;                         & #160;           &# 160;            60;          60;            0;     $4.080    0;             ;   $4.274       ;                  $4.156

FY     Class 2 taxable value (Millions)           ;                         & #160;           &# 160;            60;          60;            0;   $19.454      60;           $21.301          60;           $20.434

FY     Class 3 taxable value (Millions)           ;                         & #160;           &# 160;            60;          60;            0; $142.282       &# 160;       $143.179              & #160;     $144.082

FY     Class 4 taxable value (Millions)           ;                         & #160;           &# 160;            60;          60;          $1,5 52.031          & #160; $1,649.218       60;         $1,669.300

FY     Class 5 taxable value (Millions)           ;                         & #160;           &# 160;            60;          60;            0;   $46.795      60;           $48.069          60;           $49.378

FY     Class 7 taxable value (Millions)           ;                         & #160;           &# 160;            60;          60;            0;     $1.139    0;             ;   $1.091       ;                  $1.046

FY     Class 8 taxable value (Millions)           ;                         & #160;           &# 160;            60;          60;            0; $156.987       &# 160;       $162.581              & #160;     $168.375

FY     Class 9 taxable value (Millions)           ;                         & #160;           &# 160;            60;          60;            0; $478.417       &# 160;       $524.003              & #160;     $573.934

FY     Class 10 taxable value (Millions)           ;                         & #160;           &# 160;            60;          60;            0;   $4.920      0;             ; $4.918         ;                $4.916

FY     Class 12 taxable value (Millions)           ;                         & #160;           &# 160;            60;          60;            0; $85.934        60;         $96.946           &# 160;         $94.838

          60;            0;             ;                         & #160;           &# 160;            60;            0;             ;                                    & #160;           &# 160;         &# 160;        $108.315

FY     Class 13 taxable value (Millions)           ;                         & #160;           &# 160;            60;          60;           $181.614         &# 160;     $185.116                & #160;   $188.686

FY     Class 14 taxable value (Millions)           ;                         & #160;           &# 160;            60;          60;            0; $17.670        60;         $18.496           &# 160;         $19.361

FY     Class 15 taxable value (Millions)           ;                         & #160;           &# 160;            60;          60;            0;   $2.355      0;             ; $2.379         ;                $2.404

FY     Abatement value (Millions)           ;                         & #160;           &# 160;            60;            0;          0;          $22.0 89           0;      $23.466   60;            0;      $24.116

          60;            0;             ;                         & #160;           &# 160;            60;            0;             ;                                    & #160;           &# 160;         &# 160;          $24.227

FY     TIF Value (Millions)           ;                         & #160;           &# 160;            60;            0;                       ;         $54.331            0;     $50.978    60;            0;     $50.662

FY     RTIC Adjustment (Millions)           ;                         & #160;           &# 160;            60;                      0;          -$0.8 52           0;        $2.861 0;             ;          $1.427

     Corporate Income Tax           60;            0;             ;                         & #160;           &# 160;                     &# 160;            60;                      60;            0;       

CY     WTI price ($/barrel)          0;             ;                         & #160;           &# 160;          $43.146                     & #160;$50.833                  $55.461                      $62.195

          60;  $43.206        & #160;           &# 160;            60;            0;             ;                         & #160;  $55.385                   & #160;  $54.875                   $63.562

CY     Domestic crude price ($/barrel)          0;             ;                         & #160;   $41.731                     & #160;$48.316                  $53.487                      $60.608

          60;  $42.341        & #160;           &# 160;            60;            0;             ;                         & #160;  $53.864                   & #160;  $53.484                   $60.436

CY     Montana retail sales (Millions)           ;                         & #160;           &# 160;     $18,085                     & #160;$18,576                  $19,314                      $20,100

          60;  $18,194        & #160;           &# 160;            60;            0;             ;                         & #160;  $18,895                   & #160;  $19,622                   $20,516

CY     Montana median home price ($)           0;             ;                         < /span>$217,266        0;           $224,844          60;     $232,305   & #160;           &# 160;   $239,189

          60;  $220,366                     & #160;           &# 160;            60;            0;             ;            $234,167          0;         $241,583           &# 160;   $247,719

CY     Montana population (Millions)           ;                         & #160;           &# 160;          1.043        &# 160;            60;    1.052     0;             ;    1.061                  & #160;       1.069< /p>

          60;  1.044         60;            0;             ;                         & #160;           &# 160;            60;          1.05 4                        & #160; 1.063       &# 160;            60; 1.071

CY     Wholesale employment (Thousands)         &# 160;            60;            0;         17.325        & #160;           &# 160;  17.135      &# 160;            60;17.134         60;            0;  17.193

          60;  17.400        &# 160;            60;            0;             ;                         & #160;           &# 160;      17.408  &# 160;            60;        17.498 60;            0;      17.552

CY     3-month commercial paper          & #160;           &# 160;            60;            0;             ; 0.52%        & #160;           &# 160;  0.92%      &# 160;            60; 1.64%        60;            0;   2.56%

          60;  0.52%        &# 160;            60;            0;             ;                         & #160;           &# 160;       1.13% &# 160;            60;         2.01%            0;        2.94%

FY     Audit, penalty & interest collections (Millions)           ;                         & #160;         & #160;           &# 160;     $18.237                  $18.891                      $19.925

          60;            0;             ;                         & #160;           &# 160;            60;            0;             ;  $11.237        & #160;           &# 160;$19.053        & #160;        $20.833

FY     Refunds (Millions)           ;                         & #160;           &# 160;            60;            0;             ;           ;          -$31.391         ;        -$21.797 60;            0;      -$22.990

          60;            0;             ;                         & #160;           &# 160;            60;            0;             ; -$31.391                     -$21.984           ;      -$24.038

FY     RTIC Adjustment (Millions)           ;                         & #160;           &# 160;            60;                      0;          -$4.8 08           0;     -$27.258   &# 160;            60;     -$2.496

FY     CATTLE PRICE ADJUSTMENT (THOUSANDS)                      & #160;           &# 160;         &# 160;          $5 93.250          & #160;    $197.750     ;                         & #160;     

     Vehicle Taxes & Fees          &# 160;            60;            0;             ;                         & #160;                     &# 160;            60;                      0;             ;        

FY     Montana new vehicle sales (Thousands)         &# 160;            60;            0;             ;           ;               68.218                    67.551                         66.538

          60;            0;             ;                         & #160;           &# 160;            60;            0;             ;    66.689        &# 160;            60;  67.076       60;            0;66.573

FY     US new vehicle sales (Millions)           ;                         & #160;           &# 160;            60;          60;            0;    17.490                    17.608                         17.562

          60;            0;             ;                         & #160;           &# 160;            60;            0;             ;    17.577        &# 160;            60;  17.497       60;            0;17.571

FY     US total vehicle stock (Millions)           ;                         & #160;           &# 160;            60;          60;            0;  278.902                  284.096                       288.257

          60;            0;             ;                         & #160;           &# 160;            60;            0;             ;  278.954        & #160;           &# 160;284.083        & #160;        288.221

FY     RTIC Adjustment (Millions)           ;                         & #160;           &# 160;            60;                      0;         ($1.826)            60;     ($0.266)   &# 160;            60;       $2.975

     Oil & Natural Gas Production Tax           60;            0;             ;                         & #160;         & #160;           &# 160;            60;          60;            0;             ;  

CY     WTI price ($/barrel)          0;             ;                         & #160;           &# 160;         $43.146                      $50.833                  $55.461                       $62.19 5

          60;  $43.206       ;                         & #160;           &# 160;            60;            0;             ;     $55.385       ;                $54.875        & #160;        $63.562

CY     Montana oil price ratio           60;            0;             ;                         & #160;       0.820                        & #160; 0.820                      0.820                         & #160; 0.820

          60;  0.813

CY     Total oil production (Million barrels)                       & #160;           &# 160;          22.459                        20.087                    18.514                         17.190

          60;  23.065                   & #160;           &# 160;            60;            0;             ;                      20.479                   & #160;    18.806                   & #160;17.475

CY     Holiday oil production (Million barrels)                       & #160;           &# 160;        1.117                         < /span> 0.152                      0.142                         & #160; 0.132

          60;  1.250         60;            0;             ;                         & #160;           &# 160;            60;          0.14 9                        & #160; 0.138       &# 160;            60; 0.128

CY     Henry Hub price ($/MCF)                       & #160;           &# 160;            60;            0;  $2.550                         $3.390                    $2.952                         < /span>$2.931

          60;  $2.493        &# 160;            60;            0;             ;                         & #160;           &# 160;      $3.090  &# 160;            60;        $2.801 60;            0;      $2.775

CY     Montana natural gas price ratio           60;            0;             ;                   0.765                         < /span> 0.765                      0.765                         & #160; 0.765

          60;  0.504

CY     Total natural gas production (Million MCFs)          & #160;           &# 160;         51.435                        45.953                    40.076                         34.994

          60;  74.555        &# 160;            60;            0;             ;                         & #160;           &# 160;      60.703  &# 160;            60;        58.508 60;            0;      53.853

CY     Holiday natural gas production (Million MCFs)          & #160;           &# 160;       0.904                         < /span> 0.952                      1.144                         & #160; 1.097

          60;  0.655         60;            0;             ;                         & #160;           &# 160;            60;          0.73 1                        & #160; 1.165       &# 160;            60; 1.168

FY     RTIC Adjustment (Millions)           ;                         & #160;           &# 160;            60;                      0;          -$1.1 88           0;        $1.873 0;             ;          $7.042

     Insurance Tax & License Fees          &# 160;            60;            0;             ;                                    & #160;           &# 160;         &# 160;            60;            0;      

FY     Montana PCE Finance & Insurance (Millions)           ;                         & #160;         & #160;           &# 160;       $2,750        & #160;          $ 2,838          &# 160;            60;$2,955

          60;            0;             ;                         & #160;           &# 160;            60;            0;             ;       2,761         60;            0;  $2,867       0;             ;$3,039

FY     RTIC Adjustment (Millions)           ;                         & #160;           &# 160;            60;                      0;           $0.119                   -$0.276  ;                     -$1.244

     Video Gambling Tax           60;            0;             ;                         & #160;           &# 160;            60;          60;            0;             ;           ;                       

FY     Montana personal income (Millions)           ;                         & #160;           &# 160;                     &# 160;        $45,117& #160;           &# 160;    $47,243    & #160;           &# 160;    $49,681

FY     RTIC Adjustment (Millions)           ;                         & #160;           &# 160;            60;                      0;           $0.263                    $0.034             & #160;        -$1.294

FY     TIME SERIES                       & #160;           &# 160;            60;            0;             ;                                    & #160;         2017            60;          201 8                        & #160;  2019

FY     MONTANA POPULATION (MILLIONS)         &# 160;            60;            0;             ;           ;                    1.049  & #160;           &# 160;      1.058   60;            0;          1.067

Other Business Taxes                      & #160;           &# 160;            60;            0;             ;                                    & #160;           &# 160;         &# 160;            60;           

     Driver's License Fee           60;            0;             ;                         & #160;           &# 160;            60;          60;            0;             ;           ;                       

CY     Montana population age 16 and over (Millions)           ;                         & #160;         & #160;           &# 160;      0.848        &# 160;            60;0.855         0;             ;    0.860

          60;            0;             ;                         & #160;           &# 160;            60;            0;             ;       0.849         60;            0;    0.856      ;                 0.862

FY     RTIC Adjustment (Millions)           ;                         & #160;           &# 160;            60;                      0;          -$0.3 92           0;        $0.034 0;             ;        -$0.399

     Investment License Fee           60;            0;             ;                         & #160;           &# 160;         &# 160;            60;            0;          0;             ;                  

FY     Montana PCE Finance & Insurance (Millions)           ;                         & #160;         & #160;           &# 160;       $2,750        & #160;          $ 2,838          &# 160;            60;$2,955

          60;            0;             ;                         & #160;           &# 160;            60;            0;             ;    $2,761        &# 160;            60;  $2,867       60;            0;$3,039

FY     RTIC Adjustment (Millions)           ;                         & #160;           &# 160;            60;                      0;           $0.002                    $0.147             & #160;          $ 0.176

     Lodging Taxes          & #160;           &# 160;            60;            0;             ;                         & #160;          < span>           & #160;           &# 160;                     &# 160;            60;       

FY     US consumer spending on accommodations (Billions)           ;                                    & #160;        $130        &# 160;            60; $137        0;             ;      $142

          60;            0;             ;                         & #160;           &# 160;            60;            0;             ;        $127         60;            0;     $134                 & #160;     $142

FY     RTIC Adjustment (Millions)           ;                         & #160;           &# 160;            60;                      0;           $0.311                    $1.412             & #160;          $ 2.823

     Public Contractors Tax           60;            0;             ;                         & #160;           &# 160;         &# 160;            60;            0;          0;             ;                   

FY     Highway payments (Millions)           ;                         & #160;           &# 160;            60;          60;            0;             ;$355         & #160;           &# 160;$364         60;            0;     $373

FY     Other payments (Millions)           ;                         & #160;           &# 160;            60;            0;          0;             ;    $150     & #160;           &# 160;    $150     60;            0;         $150

FY     RTIC Adjustment (Millions)           ;                         & #160;           &# 160;            60;                      0;          -$0.0 43           0;        $0.040 0;             ;          $0.136

     Railroad Car Tax           60;            0;             ;                         & #160;           &# 160;            60;          60;            0;             ;           ;                         & #160;   

FY     Montana retail sales (Millions)           ;                         & #160;           &# 160;            60;          60;            0;     $17,653                  $17,919                      $18,309

          60;            0;             ;                         & #160;           &# 160;            60;            0;             ;  $17,653        & #160;           &# 160;$17,914        & #160;        $18,613

FY     RTIC Adjustment (Millions)           ;                         & #160;           &# 160;            60;                      0;           $0.050                   -$0.187  ;                     -$0.304

     Rental Car Sales Tax           60;            0;             ;                         & #160;           &# 160;            60;          60;            0;             ;           ;                      

FY     Montana PCE Transportation (Millions)           ;                         & #160;           &# 160;         &# 160;            60;       $943        &# 160;            60; $953        0;             ;   $1,024

          60;            0;             ;                         & #160;           &# 160;            60;            0;             ;        $963         60;            0;     $973                 & #160;  $1,044

FY     RTIC Adjustment (Millions)           ;                         & #160;           &# 160;            60;                      0;           $0.053                    $0.102             & #160;        -$0.103

     Telecommunications Excise Tax           60;            0;             ;                         & #160;         & #160;           &# 160;            60;          60;            0;             ;   

FY     Montana population age 16 and over (Millions)           ;                         & #160;         & #160;           &# 160;      0.844                      0.851                         & #160; 0.857

          60;            0;             ;                         & #160;           &# 160;            60;            0;             ;       0.845         60;            0;    0.852      ;                 0.859

CY     Landline %           0;             ;                         & #160;           &# 160;            60;            0;    52%                  & #160;        46% 60;            0;          39%< span>           & #160;           &# 160;  33%

CY     Cell Phone %           0;             ;                         & #160;           &# 160;            60;            0;95%                      & #160;    95%     60;            0;      96%                & #160;          9 6%

CY     Prepaid smartphone penetration          60;            0;             ;                     35% &# 160;            60;            0;35%                      & #160; 35%        60;            0;      35%

FY     RTIC Adjustment (Millions)           ;                         & #160;           &# 160;            60;                      0;           $0.087                    $0.024             & #160;          $ 0.063

Other Natural Resource Taxes                      & #160;           &# 160;            60;            0;             ;           ;                         & #160;         & #160;           &# 160;         

     Coal Severance Tax           60;            0;             ;                         & #160;           &# 160;            60;          60;            0;             ;           ;                       

CY     Price ($/ton)          & #160;           &# 160;            60;            0;             ;                       $14.09                         $14.47                    $14.83                         < /span>$15.09

          60;  $15.87        &# 160;            60;            0;             ;                         & #160;           &# 160;      $16.38  &# 160;            60;        $16.94 60;            0;      $17.30

CY     Production (Million tons)          &# 160;            60;            0;             ;                30.911                        30.143                    31.616                         32.119

FY     RTIC Adjustment (Millions)           ;                         & #160;           &# 160;            60;                      0;          $0.28 7                    $0.949                         < /span>$0.577

     Electrical Energy Tax           60;            0;             ;                         & #160;           &# 160;            60;          60;            0;             ;           ;                      

FY     Taxable Production (kwh)          &# 160;            60;            0;             ;                         & #160;         & #160;           22,242                    22,197                         22,620

FY     RTIC Adjustment (Millions)           ;                         & #160;           &# 160;            60;                      0;           $0.146                    $0.269             & #160;          $ 0.110

     Metalliferous Mines Tax           60;            0;             ;                         & #160;           &# 160;         &# 160;            60;            0;          0;             ;                  

CY     Price: Copper ($/lb)          &# 160;            60;            0;             ;                         & #160; $2.16       &# 160;            60;     $2.19    0;             ;     $2.21                 & #160;        $2.23

CY     Price: Silver ($/oz)          & #160;           &# 160;            60;            0;             ;                   $15   &# 160;            60;            0;$15         & #160;           &# 160;  $15       0;             ;         $15

CY     Price: Gold ($/oz)          & #160;           &# 160;            60;            0;             ;                $1,139                   & #160;    $1,111    & #160;           &# 160;  $1,085      &# 160;            60;    $1,057

CY     Price: Moly ($/lb)          &# 160;            60;            0;             ;                         & #160;          $ 9                        & #160;    $10     60;            0;       $10  & #160;           &# 160;            60; $10

CY     Price: Palladium ($/oz)          & #160;           &# 160;            60;            0;             ;          $602< span>           & #160;           &# 160;  $629       60;            0;   $638                   & #160;       $647

CY     Price: Platinum ($/oz)          & #160;           &# 160;            60;            0;             ;            $911          &# 160;            60;   $953      0;             ;    $997     & #160;           &# 160;     $1,044

FY     RTIC Adjustment (Millions)           ;                         & #160;           &# 160;            60;                      0;          -$0.2 81           0;       -$0.114  60;            0;         $0.158

     US Mineral Royalty                       & #160;           &# 160;            60;            0;             ;                                    & #160;           &# 160;         &# 160;            60;            

FFY     Oil price ($/barrel)          0;             ;                         & #160;           &# 160;           $44.17                         $53.49                    $57.75                         < /span>$64.43

          60;            0;             ;                         & #160;           &# 160;            60;            0;             ;    $47.14        &# 160;            60;  $47.51       60;            0;$53.09

FFY     Oil production (Million barrels)                       & #160;           &# 160;            60;      2.337                         < /span> 1.751                      1.542                         & #160; 1.332

          60;            0;             ;                         & #160;           &# 160;            60;            0;             ;       2.310         60;            0;    2.168      ;                 2.027

FFY     Coal price ($/ton)          & #160;           &# 160;            60;            0;             ;             $18.36                         $19.73                    $20.53                         < /span>$20.99

          60;            0;             ;                         & #160;           &# 160;            60;            0;             ;    $20.88        &# 160;            60;  $21.90       60;            0;$22.51

FFY     Coal production (Million tons)          &# 160;            60;            0;             ;     16.170                        15.679                    15.371                         15.717

          60;            0;             ;                         & #160;           &# 160;            60;            0;             ;    15.679        &# 160;            60;  15.371       60;            0;15.717

FFY     Natural gas price ($/MCF)                       & #160;           &# 160;            60;            0; $1.85                         & #160;$2.75                      $2.48                         & #160; $2.40

          60;            0;             ;                         & #160;           &# 160;            60;            0;             ;       $2.56         60;            0;    $2.38      ;                 $2.30

FFY     Natural gas production (Million MCFs)          & #160;           &# 160;            60;    10.287                        10.287                    10.287                         10.287

          60;            0;             ;                         & #160;           &# 160;            60;            0;             ;       6.616         60;            0;    6.616      ;                 6.616

FFY     Rent and bonus payments (Millions)           ;                         & #160;           &# 160;         &# 160;            60;       $4.795        & #160;          $ 4.795          &# 160;            60;$4.795

          60;            0;             ;                         & #160;           &# 160;            60;            0;             ;    $2.821        &# 160;            60;  $3.175       60;            0;$3.175

FY     RTIC Adjustment (Millions)           ;                         & #160;           &# 160;            60;                      0;          -$0.7 90           0;       -$0.102  60;            0;         $0.110

     Wholesale Energy Tax           60;            0;             ;                         & #160;           &# 160;                     &# 160;            60;                      60;            0;       

FY     Production (kwh)          &# 160;            60;            0;             ;                         & #160;           &# 160;         &# 160;            60; 24,307                    24,073                         24,296

FY     RTIC Adjustment (Millions)           ;                         & #160;           &# 160;            60;                      0;          -$0.0 36           0;       -$0.099  60;            0;       -$0.171

Other Interest Earnings         0;             ;                         & #160;           &# 160;            60;            0;          0;             ;                                    & #160;         < /span>

     Coal Trust Interest                       & #160;           &# 160;            60;            0;             ;                                    & #160;           &# 160;         &# 160;            60;            0; 

FY     Short-term interest rates          &# 160;            60;            0;             ;                         & #160;         & #160;           &# 160;    0.63%    &# 160;            60;   1.18%      60;            0;     1.97%

FY     Long-term interest rates          &# 160;            60;            0;             ;                         & #160;         & #160;           &# 160;    3.49%    &# 160;            60;   3.67%      60;            0;     3.85%

FY     RTIC Adjustment (Millions)           ;                         & #160;           &# 160;            60;                      0;           $1.185                   -$0.038  ;                     -$1.152

     Treasury Cash Account Interest                       & #160;           &# 160;            60;            0;          0;             ;                                    & #160;           &# 160;    

FY     Short-term interest rates          &# 160;            60;            0;             ;                         & #160;         & #160;           &# 160;    0.81%        & #160;           1.36%          60;            0; 2.15%

          60;            0;             ;                         & #160;           &# 160;            60;            0;             ;     0.73%        &# 160;            60;  1.43%       60;            0; 2.28%

FY     Average balance (Millions)           ;                         & #160;           &# 160;            60;            0;          0;        $930.216        0;       $940.191 &# 160;            60;     $930.992

          60;            0;             ;                         & #160;           &# 160;            60;            0;             ;$589.483                     $530.235          0;     $680.590

FY     RTIC Adjustment (Millions)           ;                         & #160;           &# 160;            60;                      0;           $2.480                    $6.429             & #160;          $ 9.982

Other Consumption Taxes                      & #160;           &# 160;            60;            0;             ;           ;                         & #160;         & #160;           &# 160;            60;    

     Beer Tax           60;            0;             ;                         & #160;           &# 160;            60;            0;          0;             ;                                    & #160;           &# 160;   

FY     Montana PCE food (Millions)           ;                         & #160;           &# 160;            60;          60;            0;         $4,604        & #160;          $ 4,797          &# 160;            60;$4,993

          60;            0;             ;                         & #160;           &# 160;            60;            0;             ;    $4,666        &# 160;            60;  $4,876       60;            0;$5,092

FY     Montana population age 21 and above (Millions)           ;                         & #160;         & #160;           &# 160;   0.783                      0.789                         & #160; 0.795

          60;            0;             ;                         & #160;           &# 160;            60;            0;             ;       0.783         60;            0;    0.791      ;                 0.797

FY     RTIC Adjustment (Millions)           ;                         & #160;           &# 160;            60;                      0;          -$0.0 18           0;       -$0.024  60;            0;       -$0.030

     Cigarette Tax           60;            0;             ;                         & #160;           &# 160;            60;            0;          0;             ;                                    & #160;        

FY     U.S. Consumer spending on tobacco (Millions)         ;                         & #160;         & #160;           &# 160;      $1.275  &# 160;            60;    $1.318     60;            0;      $1.370

          60;  (BILLIONS)        0;             ;                         & #160;           &# 160;            60;            0;  $108                    & #160;      $110  &# 160;            60;       $112

FY     CPI for tobacco                       & #160;           &# 160;            60;            0;             ;                                    & #160;        106                         108                         & #160;    110

          60;            0;             ;                         & #160;           &# 160;            60;            0;             ;          135         0;             ;       142  &# 160;            60;         150

FY     Montana population age 18 and above (Millions)           ;                         & #160;         & #160;           &# 160;   0.822                      0.829                         & #160; 0.835

          60;            0;             ;                         & #160;           &# 160;            60;            0;             ;       0.823         60;            0;    0.830      ;                 0.836

FY     RTIC Adjustment (Millions)           ;                         & #160;           &# 160;            60;                      0;           $0.079                    $0.079             & #160;          $ 0.030

     Liquor Excise & License Tax           60;            0;             ;                         & #160;           &# 160;         &# 160;            60;            0;          0;             ;         

FY     Montana PCE food (Millions)           ;                         & #160;           &# 160;            60;          60;            0;         $4,604        & #160;          $ 4,797          &# 160;            60;$4,993

          60;            0;             ;                         & #160;           &# 160;            60;            0;             ;    $4,666        &# 160;            60;  $4,876       60;            0;$5,092

FY     RTIC Adjustment (Millions)           ;                         & #160;           &# 160;            60;                      0;          -$0.7 20           0;       -$0.483  60;            0;       -$0.353

     Liquor Profits          & #160;           &# 160;            60;            0;             ;                         & #160;           &# 160;         &# 160;            60;            0;          0;             ;           ;

FY     Montana PCE food (Millions)           ;                         & #160;           &# 160;            60;          60;            0;         $4,604        & #160;          $ 4,797          &# 160;            60;$4,993

          60;            0;             ;                         & #160;           &# 160;            60;            0;             ;    $4,666        &# 160;            60;  $4,876       60;            0;$5,092

FY     RTIC Adjustment (Millions)           ;                         & #160;           &# 160;            60;                      0;           $0.277                    $0.435             & #160;          $ 0.585

     Lottery Profits          & #160;           &# 160;            60;            0;             ;                         & #160;           &# 160;         &# 160;            60;            0;          0;             ;         

FY     Montana population age 18 and above (Millions)           ;                         & #160;         & #160;           &# 160;   0.822                      0.829                         & #160; 0.835

          60;            0;             ;                         & #160;           &# 160;            60;            0;             ;       0.823         60;            0;    0.830      ;                 0.836

FY     Short-term interest rates          &# 160;            60;            0;             ;                         & #160;         & #160;           &# 160;    0.18%        & #160;           0.19%          60;            0; 0.19%

          60;            0;             ;                         & #160;           &# 160;            60;            0;             ;     0.73%        &# 160;            60;  1.43%       60;            0; 2.28%

FY     RTIC Adjustment (Millions)           ;                         & #160;           &# 160;            60;                      0;         ($0.814)            60;     ($0.636)   &# 160;            60;    ($0.175)

     Tobacco Tax           60;            0;             ;                         & #160;           &# 160;            60;            0;          0;             ;                                    & #160;         < /span>

FY     Montana population age 18 and above (Millions)           ;                         & #160;         & #160;           &# 160;   0.822                      0.829                         & #160; 0.835

          60;            0;             ;                         & #160;           &# 160;            60;            0;             ;       0.823         60;            0;    0.830      ;                 0.836

FY     Montana PCE (Millions)           ;                         & #160;           &# 160;            60;            0;          0;             ; $62,096                  $64,763                       $67,45 2

          60;            0;             ;                         & #160;           &# 160;            60;            0;             ;  $63,413        & #160;           &# 160;$66,320        & #160;        $69,369

FY     RTIC Adjustment (Millions)           ;                         & #160;           &# 160;            60;                      0;         ($0.253)            60;     ($0.293)   &# 160;            60;    ($0.327)

     Wine Tax           60;            0;             ;                         & #160;           &# 160;            60;            0;          0;             ;                                    & #160;           &# 160;   

FY     Montana population age 21 and above (Millions)           ;                         & #160;         & #160;           &# 160;   0.783                      0.789                         & #160; 0.795

          60;            0;             ;                         & #160;           &# 160;            60;            0;             ;       0.783         60;            0;    0.791      ;                 0.797

FY     RTIC Adjustment (Millions)           ;                         & #160;           &# 160;            60;                      0;         ($0.065)            60;     ($0.090)   &# 160;            60;    ($0.109)

Other Sources         0;             ;                         & #160;           &# 160;            60;            0;             ;           ;                         & #160;         & #160;           &# 160;            

     All Other Revenue           ;                         & #160;           &# 160;            60;            0;             ;           ;                         & #160;         & #160;           &# 160;            60; 

FY     Time series          & #160;           &# 160;            60;            0;             ;                         & #160;                     &# 160;            60;      2017   0;             ;    2018     & #160;           &# 160;         2019

FY     RTIC Adjustment (Millions)           ;                         & #160;           &# 160;            60;                      0;             ;  $1.907                 $1.682                         & #160;$1.022

     Highway Patrol Fines          &# 160;            60;            0;             ;                         & #160;           &# 160;         &# 160;            60;            0;          0;             ;         

FY     Time series          & #160;           &# 160;            60;            0;             ;                         & #160;                     &# 160;            60;      2017   0;             ;    2018     & #160;           &# 160;         2019

FY     RTIC Adjustment (Millions)           ;                         & #160;           &# 160;            60;                      0;             ;  $0.086                 $0.089                         & #160;$0.100

     Nursing Facilities Fee           60;            0;             ;                         & #160;           &# 160;                      60;            0;             ;           ;                     

FY     Time series          & #160;           &# 160;            60;            0;             ;                         & #160;                     &# 160;            60;      2017   0;             ;    2018     & #160;           &# 160;         2019

FY     RTIC Adjustment (Millions)           ;                         & #160;           &# 160;            60;                      0;             ;($0.063)         0;     ($0.001)    60;            0;        $0.063

     Public Institution Reimbursements         0;             ;                         & #160;           &# 160;         &# 160;            60;            0;          0;             ;                

FY     Montana nursing facility residents          0;             ;                         & #160;           &# 160;         &# 160;            60;      4,510                   4,471                         & #160;  4,432

FY     RTIC Adjustment (Millions)           ;                         & #160;           &# 160;            60;                      0;             ;($0.079)         0;     ($0.779)    60;            0;      ($0.708)

     Tobacco Settlement          60;            0;             ;                         & #160;           &# 160;            60;          60;            0;             ;           ;                          

FY     Volume (Millions)           ;                         & #160;           &# 160;            60;            0;             ;           ;                     0.219                   0.211                         & #160;  0.202

FY     Inflation Adjustment          60;            0;             ;                         & #160;           &# 160;                      60;            0;     3.0%                 & #160;  3.0%      &# 160;            60;        3.0%

FY     RTIC Adjustment (Millions)           ;                         & #160;           &# 160;            60;                      0;             ;  $0.271                ($0.061)      0;             ;    ($0.099)

SELECTED NONGENERAL FUND REVENUE

The estimates for selected nongeneral fund revenue for fiscal year 2017 and the 2018-2019 biennium are based on the assumptions of a continuation of Montana law as it existed on January 1, 2017. The revenue estimates contained in the following tables 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, 2019 Biennium, Volume 2 -- Revenue Estimates" prepared by the Legislative Fiscal Division.

Current Law

Selected Nongeneral Fund Revenue Estimates

(In Millions of Dollars)

          Actu al     Estimated     Esti mated     Estimated

Source of Revenue     FY 2016     FY 2017     FY 2018     FY 2019

Property Tax: 6 Mill           60;            0;             ;                         & #160;           &# 160;         16.755                      17.149                         < /span>18.161                    18.649

          60;            0;             ;                         & #160;           &# 160;            60;            0;             ;                                    & #160;   18.209                   & #160;    18.780  

Natural Resource Taxes                      & #160;           &# 160;            60;            0;             ;                                    & #160;                     &# 160;            60;            0; 

Federal Forest Receipts           ;                         & #160;           &# 160;            60;            0;   15.939                        2.505                         & #160; 2.654                      2.863

Resource Indemnity Tax           60;            0;             ;                         & #160;           &# 160;   2.335                        2.357                         & #160; 2.324                      2.360

          60;  2.335         60;            0;             ;                         & #160;           &# 160;            60;           2.490                       & #160;2.591        &# 160;            60;     2.649

Natural Resource Taxes Subtotal         0;             ;                         & #160;          18.274                        4.861                         & #160; 4.978                      5.222

          60;  18.274        &# 160;            60;            0;             ;                         & #160;           &# 160;         4.995            60;           5.245                       & #160;  5.512  

Interest Earnings         0;             ;                         & #160;           &# 160;            60;            0;             ;           ;                                                 & #160;            

Capital Land Grant Interest and Income                       & #160;           &# 160;            60;     1.510                        1.112                         & #160; 1.171                      1.393

Common School Interest and Income                       & #160;           &# 160;            60;      47.009                      41.663                         40.722                    41.786

          60;  47.009        &# 160;            60;            0;             ;                         & #160;           &# 160;       41.166 &# 160;            60;       39.118  60;            0;          38.78 1

Cultural Trust Interest                       & #160;           &# 160;            60;            0;             ;         0.485                        0.469                         & #160; 0.504                      0.543

          60;  0.485         60;            0;             ;                         & #160;           &# 160;            60;           0.488                       & #160;0.478        &# 160;            60;     0.468

Deaf & Blind Interest and Income                       & #160;           &# 160;            60;            0;   0.344                        0.319                         & #160; 0.319                      0.339

          60;  0.344         60;            0;             ;                         & #160;           &# 160;            60;           0.328                       & #160;0.315        &# 160;            60;     0.321

Economic Development Trust          &# 160;            60;            0;             ;                     3.171                        3.352                         & #160; 3.785                      4.285

          60;  3.171         60;            0;             ;                         & #160;           &# 160;            60;           3.460                       & #160;3.624        &# 160;            60;     3.803

Parks Trust Interest                       & #160;           &# 160;            60;            0;             ;            0.900                        0.884                         & #160; 0.956                      1.035

          60;  0.900         60;            0;             ;                         & #160;           &# 160;            60;           0.928                       & #160;0.914        &# 160;            60;     0.901

Pine Hills Interest and Income                       & #160;           &# 160;            60;            0;        0.392                        0.370                         & #160; 0.361                      0.385

          60;  0.392         60;            0;             ;                         & #160;           &# 160;            60;           0.379                       & #160;0.357        &# 160;            60;     0.368

Regional Water Trust Interest                       & #160;           &# 160;            60;            0;        3.307                        3.136                         & #160; 3.325                      3.536

          60;  3.307         60;            0;             ;                         & #160;           &# 160;            60;           3.165                       & #160;3.095        &# 160;            60;     3.033

Resource Indemnity Trust Interest                       & #160;           &# 160;            60;            0; 3.973                        3.530                         & #160; 3.707                      3.892

          60;  3.973         60;            0;             ;                         & #160;           &# 160;            60;           3.750                       & #160;3.547        &# 160;            60;     3.346

Tobacco Trust Interest                       & #160;           &# 160;            60;            0;             ;       9.766                        9.109                         & #160; 9.670                    10.310

          60;  9.766         60;            0;             ;                         & #160;           &# 160;            60;           9.368                       & #160;9.152        &# 160;            60;     8.968

Treasure State Endowment Trust Interest                       & #160;           &# 160;            60;  7.009                        7.270                         & #160; 8.019                      8.887

          60;  7.009         60;            0;             ;                         & #160;           &# 160;            60;           7.407                       & #160;7.524        &# 160;            60;     7.671

Interest Earnings Subtotal         0;             ;                         & #160;           &# 160;          77.866                      71.215                         72.539                    76.392

          60;  77.866        &# 160;            60;            0;             ;                         & #160;           &# 160;       71.551 &# 160;            60;       69.295  60;            0;         69.052  

Consumption Taxes                      & #160;           &# 160;            60;            0;             ;                                    & #160;           &# 160;         &# 160;            60;            0;       

Diesel Tax           60;            0;             ;                         & #160;           &# 160;            60;           73.415                      73.423                         74.765                    76.134

Diesel Storage Tank Tax           60;            0;             ;                         & #160;           &# 160;   2.798                        2.927                         & #160; 2.985                      3.045

Gasoline Tax           60;            0;             ;                         & #160;           &# 160;            60;     144.544                    148.537                       145.230                  145.344

Gasoline Storage Tank Tax           60;            0;             ;                         & #160;           4.059                        3.926                         & #160; 3.897                      3.898

GVW and Other Fees          &# 160;            60;            0;             ;                         & #160;      35.034                      35.241                         35.455                    35.675

Consumption Taxes Subtotal         0;             ;                         & #160;           &# 160;   259.850                    264.054                       262.333                  264.097

          60;  259.850        & #160;           &# 160;            60;            0;             ;                         & #160;   264.054                  & #160; 262.333                    & #160;  264.097 

Total of Selected Nongeneral Fund Sources         0;             ;              $372.746                  $357.279                     $358.011                $364.360

          60;  $372.746                     & #160;           &# 160;            60;            0;             ;             $357.748         60;        $355.082& #160;           &# 160;       $357.440

SELECTED ASSUMPTIONS FOR NONGENERAL FUND REVENUE ESTIMATES

Year     Assumption   &# 160; 2017     2018      2019

     Property Tax: 6 Mill

FY     Taxable Value          & #160;           &# 160;            60;            0;             ;                         & #160;      $2,693.678                       $2,861. 573                         $2,940.910

          60;            0;             ;                         & #160;           &# 160;            60;            0;             ;                         & #160;          < span>           & #160;          < span style="text-decoration: underline">$2,954.388

FY     TIF Value (Millions)           ;                         & #160;           &# 160;            60;            0;             ;     $54.331                         & #160;  $50.978                         & #160;   $50.662

FY     Abatement value (Millions)           ;                         & #160;           &# 160;            60;            0;     $22.089                         & #160;  $23.466                         & #160;   $24.116

          60;            0;             ;                         & #160;           &# 160;            60;            0;             ;                         & #160;          < span>           & #160;           &# 160;   $24.227 

Natural Resource Taxes                      & #160;           &# 160;            60;            0;             ;                         & #160;         & #160;           &# 160;            60;            0;          0;             ;                   

     Federal Forest Receipts           ;                         & #160;           &# 160;            60;            0;             ;                                    & #160;           &# 160;         &# 160;            60;            0;           0;    

FY     Total Montana Receipts (Millions)           ;                         & #160;           &# 160;            60;        $2.505                         & #160;    $2.654                         & #160;     $2.863

     Resource Indemnity Tax           60;            0;             ;                         & #160;           &# 160;            60;            0;          0;             ;                                    & #160;           &# 160;          &# 160;  

FY     Coal Receipts (Millions)           ;                         & #160;           &# 160;            60;            0;             ;$2.111                         & #160;    $2.079                         & #160;     $2.114

          60;  $2.244        &# 160;            60;            0;             ;                         & #160;           &# 160;            60;            0; $2.346        0;             ;         $2.404

FY     Other Receipts (Millions)           ;                         & #160;           &# 160;            60;            0;          $0.24 5                         & #160;    $0.245                         < /span>$0.245      

Interest Earnings         0;             ;                         & #160;           &# 160;            60;            0;             ;                                    & #160;           &# 160;            60;          60;            0;             ;      

     Capital Land Grant Interest and Income                       & #160;           &# 160;            60;            0;             ;           ;                         & #160;         & #160;           &# 160;            60;           60;   

FY     Lease Total (Millions)           ;                         & #160;           &# 160;            60;            0;             ;   $0.915                         & #160;    $0.876                         & #160;     $0.889

FY     Permanent Fund Total (Millions)           ;                         & #160;           &# 160;            60;          $1.112                         & #160;    $1.171                         & #160;     $1.393

          60;  $1.021        &# 160;            60;            0;             ;                         & #160;           &# 160;            60;            0; $1.099        0;             ;         $1.314

FY     Administration Costs (Millions)           ;                         & #160;           &# 160;            60;            0;($0.825)         60;            0;      ($0.804)   60;            0;             ;($0.810)

     Common School Interest and Income                       & #160;           &# 160;            60;            0;             ;           ;                         & #160;           &# 160;         &# 160;            60;            0;      

FY     TFBP Long-Term Interest Rate          &# 160;            60;            0;             ;                         & #160; 3.50%        & #160;           &# 160;         3.68%            60;            0;      3.86%

          60;  3.57%        &# 160;            60;            0;             ;                         & #160;           &# 160;            60;            0;   3.41%      0;             ;             3.24%

FY     Short-Term Interest Rate          &# 160;            60;            0;             ;                         & #160;           0.63%        & #160;           &# 160;         1.18%            60;            0;      1.97%

     Cultural Trust Interest                       & #160;           &# 160;            60;            0;             ;                      0.73%        &# 160;            60;         1.43%            0;             ; 2.28%     

FY     TFBP Long-Term Interest Rate          &# 160;            60;            0;             ;                         & #160; 3.43%        & #160;           &# 160;         3.61%            60;            0;      3.79%

          60;  3.57%        &# 160;            60;            0;             ;                         & #160;           &# 160;            60;            0;   3.40%      0;             ;             3.24%

FY     Short-Term Interest Rate          &# 160;            60;            0;             ;                         & #160;           0.63%        & #160;           &# 160;         1.18%            60;            0;      1.97%

     Deaf & Blind Interest and Income                       & #160;           &# 160;            60;            0;             ;   0.73%        &# 160;            60;         1.43%            0;             ; 2.28%     

FY     TFBP Long-Term Interest Rate          &# 160;            60;            0;             ;                         & #160; 3.50%        & #160;           &# 160;         3.68%            60;            0;      3.86%

          60;  3.57%        &# 160;            60;            0;             ;                         & #160;           &# 160;            60;            0;   3.41%      0;             ;             3.24%

FY     Short-Term Interest Rate          &# 160;            60;            0;             ;                         & #160;           0.63%        & #160;           &# 160;         1.18%            60;            0;      1.97%

     Economic Development Trust          &# 160;            60;            0;             ;                         & #160;        0.73%        &# 160;            60;         1.43%            0;             ; 2.28%     

FY     TFBP Long-Term Interest Rate          &# 160;            60;            0;             ;                         & #160; 3.30%        & #160;           &# 160;         3.47%            60;            0;      3.64%

          60;  3.38%        &# 160;            60;            0;             ;                         & #160;           &# 160;            60;            0;   3.26%      0;             ;             3.14%

FY     Short-Term Interest Rate          &# 160;            60;            0;             ;                         & #160;           0.63%        & #160;           &# 160;         1.18%            60;            0;      1.97%

     Parks Trust Interest                       & #160;           &# 160;            60;            0;             ;                         & #160;0.73%        &# 160;            60;         1.43%            0;             ; 2.28%     

FY     TFBP Long-Term Interest Rate          &# 160;            60;            0;             ;                         & #160; 3.43%        & #160;           &# 160;         3.60%            60;            0;      3.78%

          60;  3.59%        &# 160;            60;            0;             ;                         & #160;           &# 160;            60;            0;   3.42%      0;             ;             3.26%

FY     Short-Term Interest Rate          &# 160;            60;            0;             ;                         & #160;           0.63%        & #160;           &# 160;         1.18%            60;            0;      1.97%

     Pine Hills Interest and Income                       & #160;           &# 160;            60;            0;             ;        0.73%        &# 160;            60;         1.43%            0;             ; 2.28%     

FY     TFBP Long-Term Interest Rate          &# 160;            60;            0;             ;                         & #160; 3.50%        & #160;           &# 160;         3.68%            60;            0;      3.86%

          60;  3.57%        &# 160;            60;            0;             ;                         & #160;           &# 160;            60;            0;   3.41%      0;             ;             3.24%

FY     Short-Term Interest Rate          &# 160;            60;            0;             ;                         & #160;           0.63%        & #160;           &# 160;         1.18%            60;            0;      1.97%

     Regional Water Trust Interest                       & #160;           &# 160;            60;            0;             ;         0.73%        &# 160;            60;         1.43%            0;             ; 2.28%     

FY     TFBP Long-Term Interest Rate          &# 160;            60;            0;             ;                         & #160; 3.36%        & #160;           &# 160;         3.52%            60;            0;      3.70%

          60;  3.40%        &# 160;            60;            0;             ;                         & #160;           &# 160;            60;            0;   3.28%      0;             ;             3.15%

FY     Short-Term Interest Rate          &# 160;            60;            0;             ;                         & #160;           0.63%        & #160;           &# 160;         1.18%            60;            0;      1.97%

     Resource Indemnity Trust Interest                       & #160;           &# 160;            60;            0;             ;  0.73%        &# 160;            60;         1.43%            0;             ; 2.28%     

FY     TFBP Long-Term Interest Rate          &# 160;            60;            0;             ;                         & #160; 3.53%        & #160;           &# 160;         3.71%            60;            0;      3.89%

          60;  3.75%        &# 160;            60;            0;             ;                         & #160;           &# 160;            60;            0;   3.55%      0;             ;             3.35%

FY     Short-Term Interest Rate          &# 160;            60;            0;             ;                         & #160;           0.63%        & #160;           &# 160;         1.18%            60;            0;      1.97%

     Tobacco Trust Interest                       & #160;           &# 160;            60;            0;             ;                     0.73%        &# 160;            60;         1.43%            0;             ; 2.28%     

FY     TFBP Long-Term Interest Rate          &# 160;            60;            0;             ;                         & #160; 3.29%        & #160;           &# 160;         3.45%            60;            0;      3.62%

          60;  3.35%        &# 160;            60;            0;             ;                         & #160;           &# 160;            60;            0;   3.24%      0;             ;             3.12%

FY     Short-Term Interest Rate          &# 160;            60;            0;             ;                         & #160;           0.63%        & #160;           &# 160;         1.18%            60;            0;      1.97%

     Treasure State Endowment Trust Interest                       & #160;           &# 160;            60;            0;  0.73%        &# 160;            60;         1.43%            0;             ; 2.28%     

FY     TFBP Long-Term Interest Rate          &# 160;            60;            0;             ;                         & #160; 3.36%        & #160;           &# 160;         3.52%            60;            0;      3.70%

          60;  3.47%        &# 160;            60;            0;             ;                         & #160;           &# 160;            60;            0;   3.33%      0;             ;             3.19%

FY     Short-Term Interest Rate          &# 160;            60;            0;             ;                         & #160;           0.63%        & #160;           &# 160;         1.18%            60;            0;      1.97%

          60;  0.73%        &# 160;            60;            0;             ;                         & #160;           &# 160;            60;            0;   1.43%      0;             ;             2.28%

Consumption Taxes                      & #160;           &# 160;            60;            0;             ;                         & #160;          < span>           & #160;           &# 160;            60;          60;            0;             ;        

     Diesel Tax           60;            0;             ;                         & #160;           &# 160;            60;            0;             ;           ;                         & #160;           &# 160;         &# 160;            60;            0;      

FY     Time Series          & #160;           &# 160;            60;            0;             ;                         & #160;           &# 160;      2017   60;            0;             ;     2018    & #160;           &# 160;            60; 2019

     Diesel Storage Tank Tax           60;            0;             ;                         & #160;           &# 160;            60;                      60;            0;             ;           ;                         & #160;       

FY     Time Series          & #160;           &# 160;            60;            0;             ;                         & #160;           &# 160;      2017   60;            0;             ;     2018    & #160;           &# 160;            60; 2019

     Gasoline Tax           60;            0;             ;                         & #160;           &# 160;            60;            0;             ;           ;                         & #160;          < span>           & #160;           &# 160;          &# 160;   

FY     Time Series          & #160;           &# 160;            60;            0;             ;                         & #160;           &# 160;      2017   60;            0;             ;     2018    & #160;           &# 160;            60; 2019

     Gasoline Storage Tank Tax           60;            0;             ;                         & #160;           &# 160;            60;          60;            0;             ;                                    & #160;          & #160;    

FY     Time Series          & #160;           &# 160;            60;            0;             ;                         & #160;           &# 160;      2017   60;            0;             ;     2018    & #160;           &# 160;            60; 2019

     GVW and Other Fees          &# 160;            60;            0;             ;                         & #160;           &# 160;            60;          60;            0;             ;           ;                         & #160;          & #160; 

FY     Time Series          & #160;           &# 160;            60;            0;             ;                         & #160;           &# 160;      2017   60;            0;             ;     2018    & #160;           &# 160;            60; 2019

- END -

 


Latest Version of HJ 2 (HJ0002.02)
Processed for the Web on April 13, 2017 (12:10pm)

New language in a bill appears underlined, deleted material appears stricken.

Sponsor names are handwritten on introduced bills, hence do not appear on the bill until it is reprinted.

See the status of this bill for the bill's primary sponsor.

 Status of this Bill | 2017 Legislature | Leg. Branch Home
All versions of this bill (PDF format)
Authorized print version of this bill w/line numbers (PDF format)
[
NEW SEARCH ]

Prepared by Montana Legislative Services
(406) 444-3064