A JOINT RESOLUTION OF THE SENATE AND THE HOUSE OF REPRESENTATIVES OF THE STATE OF MONTANA URGING THE UNITED STATES CONGRESS TO REVISE SIGNIFICANTLY FEDERAL ESTATE TAX LAW TO REDUCE THE ONEROUS TAX BURDEN RELATED TO THE TRANSFER OF PROPERTY.

WHEREAS, Montana values and way of life are threatened by the federal estate tax that makes the passing down of family businesses difficult if not impossible; and

WHEREAS, Montana farmers and ranchers have been good citizens and stewards of the land and have provided hunting, fishing, and other recreational opportunities for Montana citizens; and

WHEREAS, open space is one of the values most cherished by Montana citizens; and

WHEREAS, the enjoyment of that open space is threatened by changing ownership patterns and by the subdivision of historic Montana property; and

WHEREAS, the asset value of Montana property is determined by external economic forces unrelated to the property's ability to produce a commensurate rate of return; and

WHEREAS, it is virtually impossible to generate sufficient capital to pay federal estate taxes without selling the underlying asset.

NOW, THEREFORE, BE IT RESOLVED BY THE SENATE AND THE HOUSE OF REPRESENTATIVES OF THE STATE OF MONTANA:

That Congress be encouraged to revise significantly federal estate taxes to reduce the onerous tax burden related to the transfer of family businesses, including farms and ranches, in order to sustain the social fabric of the state.

BE IT FURTHER RESOLVED, that the Secretary of State send copies of this resolution to the Montana Congressional Delegation, the President of the United States Senate, and the Speaker of the United States House of Representatives.

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I hereby certify that the within joint resolution,

HJ 0003, originated in the House.

Chief Clerk of the House

Speaker of the House

Signed this	day

of	, .

President of the Senate

Signed this	day

of	, .

HOUSE JOINT RESOLUTION NO. 3

INTRODUCED BY C. HIBBARD, J. ANDERSEN, ANDERSON, BARNETT, G. BECK, BITNEY, BROWN, E. CLARK, R. CLARK, COBB, DALE, R. ERICKSON, HANSON, HARPER, HEDGES, KASTEN, G. MASOLO, MCCULLOCH, D. MCGEE, MCKENNEY, MOLNAR, MOOD, RANEY, REHBEIN, ROSE, RYAN, SOMERVILLE, SWANSON, L. TAYLOR, VICK, WILLIAMS, YOUNKIN, ZOOK

A JOINT RESOLUTION OF THE SENATE AND THE HOUSE OF REPRESENTATIVES OF THE STATE OF MONTANA URGING THE UNITED STATES CONGRESS TO REVISE SIGNIFICANTLY FEDERAL ESTATE TAX LAW TO REDUCE THE ONEROUS TAX BURDEN RELATED TO THE TRANSFER OF PROPERTY.