House Bill No. 446

Introduced By _______________________________________________________________________________

A Bill for an Act entitled: "An Act increasing the amount of insurance premium taxes used to fund benefits under the volunteer firefighters' compensation act; amending section

19-17-301, MCA; and providing an effective date."

Be it enacted by the Legislature of the State of Montana:

Section 1.  Section 19-17-301, MCA, is amended to read:

"19-17-301.   Fire insurance premium tax to be paid into pension trust fund. The state auditor and ex officio commissioner of insurance shall annually deposit in the pension trust fund a sum equivalent to 5% 5.5% of the premium taxes collected from insurers authorized to effect insurance against risks enumerated in 19-18-512. The sum must be computed before the amounts provided for by 19-13-604 and 19-18-512 are deducted. The money must be used for the payment of claims, benefits, and administrative costs as provided in this chapter. The money is statutorily appropriated as provided in 17-7-502."

NEW SECTION. Section 2.  Effective date. [This act] is effective July 1, 1997.