Montana HB HB0113
HOUSE BILL NO. 113
INTRODUCED BY R. DEVLIN
BY REQUEST OF THE OFFICE OF BUDGET AND PROGRAM PLANNING
A BILL FOR AN ACT ENTITLED: "AN ACT EXTENDING THE ALLOCATION OF A PORTION OF THE REVENUE FROM TIMBER HARVEST ON COMMON SCHOOL TRUST LANDS TO BASE AID AND DELAYING THE ALLOCATION OF THAT REVENUE TO THE GUARANTEE ACCOUNT; AMENDING SECTIONS 20-9-343 AND 20-9-620, MCA; AND PROVIDING AN IMMEDIATE EFFECTIVE DATE."
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MONTANA:
Section 1. Section 20-9-343, MCA, is amended to read:
"20-9-343. Definition of and revenue for state equalization aid. (1) As used in this title, the term "state equalization aid" means revenue as required in this section for:
(a) distribution to the public schools for guaranteed tax base aid, BASE aid, state reimbursement for school facilities, and grants for school technology purchases; and
(b) negotiated payments authorized under 20-7-420(3) up to $500,000 a biennium.
(2) The superintendent of public instruction may spend throughout the biennium funds appropriated for the purposes of guaranteed tax base aid, BASE aid for the BASE funding program, state reimbursement for school facilities, negotiated payments authorized under 20-7-420(3), and school technology purchases.
(3) From July 1, 2001, through June 30, 2003 2005, the following money must be paid into the guarantee account provided for in 20-9-622 for the public schools of the state as indicated:
(a) interest and income money described in 20-9-341 and 20-9-342; and
(b) investment income earned by investing interest and income money described in 20-9-341 and 20-9-342.
(4) Beginning July 1, 2003 2005, the following money must be paid into the guarantee account provided for in 20-9-622 for the public schools of the state as indicated:
(a) (i) subject to subsection (4)(a)(ii), interest and income money described in 20-9-341 and 20-9-342; and
(ii) an amount of money equal to the income money attributable to the difference between the average sale value of 18 million board feet and the total income produced from the annual timber harvest on common school trust lands during the fiscal year, which is statutorily appropriated, pursuant to 20-9-534, to be used for the purposes of 20-9-533;
(b) investment income earned by investing interest and income money described in 20-9-341 and 20-9-342."
Section 2. Section 20-9-620, MCA, is amended to read:
"20-9-620. Definition. (1) As used in 20-9-621, 20-9-622, and this section, "distributable revenue" means, except for that portion of revenue described in 20-9-343(4)(a)(ii) and available on or after July 1, 2003 2005, and that portion of revenue described in 77-1-607, and 77-1-613, 95% of all revenue from the management of school trust lands and the permanent fund, including timber sale proceeds, lease fees, interest, dividends, and net realized capital gains.
(2) The term does not include mineral royalties or land sale proceeds that are deposited directly in the permanent fund or net unrealized capital gains that remain in the permanent fund until realized."
NEW SECTION. Section 3. Effective date. [This act] is effective on passage and approval.
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Latest Version of HB 113 (HB0113.01)
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