HOUSE JOINT RESOLUTION NO. 6
INTRODUCED BY D. MOOD, J. TESTER, B. DEPRATU, L. GROSFIELD, K. OHS, B. SIMON, E. SWANSON, M. TAYLOR, C. TUSS, M. WATERMAN
BY REQUEST OF THE JOINT SELECT COMMITTEE ON JOBS AND INCOME
A JOINT RESOLUTION OF THE SENATE AND THE HOUSE OF REPRESENTATIVES OF THE STATE OF MONTANA URGING THE BOARD OF INVESTMENTS TO REACH THE STATUTORY LIMIT FOR INVESTING THE AVAILABLE COAL TAX TRUST FUNDS IN MONTANA ECONOMIC ACTIVITIES.
WHEREAS, the Board of Investments has an obligation to invest the revenue received from the coal severance tax in a reasonable manner that secures the greatest return on the investment; and
WHEREAS, by law, the Board of Investments is allowed to direct 25% of the permanent coal tax trust fund toward Montana investment opportunities; and
WHEREAS, many Montana businesses are seeking an opportunity to expand their economic enterprises and elevate their contributions to the state's future economic success; and
WHEREAS, a coordinated effort among public and private entities will provide the Board of Investments with a diversified collection of qualified Montana companies worthy of the Board's assistance; and
WHEREAS, reaching the maximum statutory limit for investing in Montana businesses that add value to the state's basic industries provides the necessary opportunities for businesses to create quality, long-term career opportunities that will strengthen, diversify, and stabilize the Montana economy.
NOW, THEREFORE, BE IT RESOLVED BY THE SENATE AND THE HOUSE OF REPRESENTATIVES OF THE STATE OF MONTANA:
That the Board of Investments be encouraged to increase the amount of the coal tax trust fund invested in Montana enterprises in order to reach the maximum statutory limit for prudent and productive investment in Montana's economic future.
BE IT FURTHER RESOLVED, that copies of this resolution be sent by the Secretary of State to the Board of Investments.
- END -
Latest Version of HJ 6 (HJ0006.ENR)
Processed for the Web on March 31, 1999 (2:12PM)
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 the bill for the bill's primary sponsor.
Status of this Bill | 1999 Session | Leg. Branch Home
This bill in WP 5.1 | All versions of all bills in WP 5.1
Prepared by Montana Legislative Services
(406)444-3064