The Revenue and Transportation Interim Committee held its organizational meeting June 12 in Helena. The committee elected Rep. Tom Jacobson (D-Great Falls) as chair and Sen. Mark Blasdel (R-Kalispell) as vice chair.
Legislative Council assigned three studies requested by resolution to the committee: Senate Joint Resolution No. 23, a study of property taxation of utility property, House Joint Resolution No. 18, a study of tax increment financing, and House Joint Resolution No. 22, a study of agricultural property valuation. The committee adopted a work plan that incorporates all three studies. The adopted work plan will appear on the committee website soon.
The work plan also includes statutory duties such as revenue estimating and monitoring and agency oversight of the Departments of Revenue and Transportation and the Montana Tax Appeal Board. Revenue estimating and monitoring topics will include receipt of reports analyzing the effectiveness of the Budget Stabilization Reserve Fund parameters, consideration of how the Budget Stabilization Reserve Fund may affect revenue estimating, and tracking increased fuel tax revenues and motor vehicle fees.
Other topics included in the work plan are review of the implementation of House Bill No. 511 provisions related to market sourcing of sales for corporate income tax purposes, examination of section 15-10-420, MCA, as it relates to statewide mill levies, development of property tax information for legislators, review of reports provided to the Legislative Finance Committee for its consideration of the stability of general fund revenue, monitoring implementation of fuel tax increases, review of the distribution of oil and natural gas taxes, and review of information on the effect on local governments of placing property into trust for a Montana Indian tribe.
The committee will hold its next meeting on September 14, 2017, in the Montana Capitol. For more information visit the committee’s website or contact Megan Moore, committee staff, at email@example.com or 406-444-4496.