HOUSE JOINT RESOLUTION NO. 2
INTRODUCED BY DEVLIN
BY REQUEST OF THE REVENUE AND TRANSPORTATION INTERIM COMMITTEE
A JOINT RESOLUTION OF THE SENATE AND THE HOUSE OF REPRESENTATIVES OF THE STATE OF MONTANA ESTABLISHING AN OFFICIAL ESTIMATE OF THE STATE'S ANTICIPATED GENERAL FUND REVENUE FOR EACH YEAR OF THE 2004-05 BIENNIUM FOR THE PURPOSE OF ACHIEVING A BALANCED GENERAL FUND BUDGET AS MANDATED BY ARTICLE VIII, SECTION 9, OF THE MONTANA CONSTITUTION; ACCEPTING A PRELIMINARY JUNE 30, 2002, UNRESERVED GENERAL FUND BALANCE THAT WAS ESTABLISHED BASED ON GENERALLY ACCEPTED ACCOUNTING PRINCIPLES; ESTABLISHING OFFICIAL ESTIMATES OF CERTAIN NONGENERAL FUND REVENUE; AND REQUESTING THAT THE GOVERNOR'S OFFICE OF BUDGET AND PROGRAM PLANNING USE THE REVENUE ESTIMATES CONTAINED IN THIS RESOLUTION AS OFFICIAL REVENUE ESTIMATES FOR FISCAL YEARS 2003, 2004, AND 2005.
WHEREAS, Article VI, section 9, of the Montana Constitution requires the Governor to submit to the Legislature a budget for the ensuing fiscal period, containing in detail for all operating funds the proposed expenditures and estimated revenue of the state; and
WHEREAS, Article VIII, section 9, of the Montana Constitution prohibits the Legislature from appropriating funds in excess of the anticipated revenue of the state; and
WHEREAS, section 5-18-107, MCA, requires the Revenue and Transportation Interim Committee to estimate the amount of revenue projected to be available for legislative appropriation and to introduce a resolution setting forth the Committee's current revenue estimate for the biennium; and
WHEREAS, section 5-18-107(2), MCA, expresses the Legislature's intent that its revenue estimates and the underlying assumptions used to derive those estimates be used by all agencies in the development of fiscal notes; and
WHEREAS, section 5-12-302(6), MCA, requires the Legislative Fiscal Analyst to assist the Revenue and Transportation Interim Committee in its revenue estimating duties; and
WHEREAS, to assist in its revenue estimating responsibilities, the Revenue and Transportation Interim Committee requested the expert assistance of the Legislative Fiscal Analyst, as allowed in section 5-18-107(3), MCA, to provide information on taxes, the economy, and revenue sources; and
WHEREAS, the Revenue and Transportation Interim Committee obtains the assistance of Executive Branch agencies in the development of the revenue estimates; and
WHEREAS, the Revenue and Transportation Interim Committee has adopted revenue estimates and the underlying assumptions used to derive those estimates for the general fund and for specific nongeneral fund sources that are significant in the development of the state budget for the 2005 biennium; and
WHEREAS, PPL-Montana has disputed the assessed value of its hydroelectric facilities in the state and has paid a portion of its property taxes under protest thereby reducing the amount of revenue available for the state general fund and the Montana University System 6-mill levy; and
WHEREAS, the amount of estimated revenue and the general fund balance affects policy decisions of the Executive Branch and the Legislative Branch; and
WHEREAS, the revenue estimates and the underlying assumptions contained in this resolution provide the basis for a comprehensive analysis of the state's revenue condition.
NOW, THEREFORE, BE IT RESOLVED BY THE SENATE AND THE HOUSE OF REPRESENTATIVES OF THE STATE OF MONTANA:
That the state general fund revenue for fiscal years 2003, 2004, and 2005 be estimated to be $1,195,014,000, $1,241,443,000, and $1,296,456,000, respectively.
BE IT FURTHER RESOLVED, that the Legislature accept for budget purposes the preliminary unreserved fiscal year 2002 fund balance of $81,316,000 for the general fund, prepared according to generally accepted accounting principles.
BE IT FURTHER RESOLVED, that the Governor's Office of Budget and Program Planning use the revenue estimates and the underlying assumptions contained in this resolution as the official revenue estimates for fiscal years 2003, 2004, and 2005.
GENERAL FUND REVENUE
The projections for total general fund revenue for fiscal years 2003, 2004, and 2005 are based on the assumption of a continuation of Montana law as it existed on January 1, 2003. Except for fiscal year 2003, the revenue estimates contained in the following tables are based on the assumptions listed in the tables that follow the general fund estimates and the assumptions for each general fund revenue source contained in the "Revenue Estimates as Adopted by the Revenue and Transportation Interim Committee" report prepared by the Legislative Fiscal Division.
Current Law
General Fund Revenue Estimates
(In Millions of Dollars)
& #160; 0; &# 160; 0; &# 160; 0; Adjusted
& #160; 0; &# 160; 0; &# 160; 0; Actual 60; & #160; Estimated 60; Estimated 0; Estimated
Source of Revenue 60; & #160; 0; &# 160; FY 2002 FY 2003 FY 2004 FY 2005
Individual Income Tax & #160; 0; &# 160; 0; $517.568 & #160; $520.764 &# 160; $556.874 ; 60; $594.339
Statewide and Vo-Tech Property Taxes 0; &# 160; 169.339 60; & #160; 172.309 ; 182. 196 & #160; 192.538 PPL-Montana Protested Property Tax Payments &# 160; 0 60; & #160; (2.091) 0; (2.129) &# 160; (2.167)
Vehicle Tax & #160; 0; &# 160; 0; &# 160; < /span>73.127 74.7 73 &# 160; 74.540& #160; 75.581
Corporation Income Tax & #160; 0; &# 160; 0; 68.173 60; & #160; 47.347 0; 64.782 60; & #160;69.223
Common School Interest and
Income
0; &#
160;
0; 48.938
Insurance Tax and License Fees 0; &# 160; 0; 47.291 60; & #160; 51.446 0; 56.038 60; & #160;58.441
Video Gambling Tax & #160; 0; &# 160; 0; 43. 666 & #160; 45.219 0; 44.755 60; & #160; 45.811
All Other Revenue 60; & #160; 0; &# 160; 0; 43.216 60; & #160;26.608 23.916 &# 160; 19.885< /span>
Permanent Coal Trust Interest Earnings 60; & #160; 0; 37.605 60; & #160; 36.825 0; 37.249 60; & #160; 37.920
Motor Vehicle Fee & #160; 0; &# 160; 0; &# 160; 27.271 & #160; 27.703 0; 28.368 & #160; 29.049
U.S. Mineral Royalty 0; &# 160; 0; &# 160; 19.772 &# 160; 22.715< span> 23.469 0; &# 160; 22.980
Telecommunications Excise Tax & #160; 0; &# 160; 19.594 0; &# 160; 20.100 & #160; 20.701 0; &# 160;21.674
Tobacco Settlement &# 160; 0; &# 160; 0; &# 160;18.647 & #160; 19.025 60; 3.105 & #160; 3.182
Public Institution Reimbursements 60; & #160; 0; &# 160; 14.283 & #160; 15.541 0; &# 160;13.939 & #160; 14.046
Estate Tax & #160; 0; &# 160; 0; &# 160; 13.816 0; 11.015 & #160; 7.516 0;4.625
Oil and Natural Gas Production Tax & #160; 0; &# 160; < /span>12.902 18.4 03 &# 160; 14.600& #160; 14.469 0;
Treasury Cash Account Interest 0; &# 160; 0; &# 160; 12.414 & #160; 7.456 0; 14.060 60; & #160; 17.331
Liquor Excise and License
Tax &
#160;
0; &#
160;
9.514
0; 9.854
Coal Severance Tax & #160; 0; &# 160; 0; &# 160;8.469 &# 160; 10.221 ; 8.384 60; 7.857
Cigarette Tax & #160; 0; &# 160; 0; &# 160; 7.887 7.870 60; 7.764 & #160; 7.667
Lottery Profits ; 60; & #160; 0; &# 160; 7.46 7 60; 6. 210 & #160; 6.255 0; 6.318
Nursing Facilities Fee & #160; 0; &# 160; 0; 5.9 18 &# 160; 5.723 5.670 60; 5.624
Liquor Profits ; 60; & #160; 0; &# 160; 5.600 60; 5.637 & #160; 5.399 0;5.365
Investment License Fee & #160; 0; &# 160; 0; 4.992 0; &# 160; 4.567 &# 160; 4.613 0; 4.659
Electrical Energy Producers' License Tax & #160; 0; &# 160; 4.197 &# 160; 4.329 0; 4.408 0; &# 160; 4.483
Highway Patrol Fines 0; &# 160; 0; &# 160; < /span>4.062 0;4.142 0; &# 160;4.224 &# 160; 4.308
Metalliferous Mines Tax & #160; 0; &# 160; 0; 3.329 0; &# 160; 4.842 &# 160; 2.967 0; 2.753
Public Contractors Tax & #160; 0; &# 160; 0; 3.267 0; &# 160; 2.679&# 160; 3.354 0; 3.356
Wholesale Energy Transaction Tax & #160; 0; &# 160; 2.906 0; 3.373 0; &# 160; 3.432 &# 160; 3.492
Beer Tax & #160; 0; &# 160; 0; &# 160; 2.784 0; 2.918 0; &# 160; 3.058 &# 160; 3.205
Driver's License Fee & #160; 0; &# 160; 0; &# 160;2.580 &# 160; 2.355 0; 2.373 0; &# 160; 2.391
Tobacco Tax & #160; 0; &# 160; 0; &# 160; < /span>2.183 0;2.262 0; &# 160;2.353 &# 160; 2.444
Railroad Car Tax & #160; 0; &# 160; 0; &# 160; 1.490 &# 160; 1.577 0; 1.688 0; &# 160; 1.681
Wine Tax & #160; 0; &# 160; 0; &# 160; 1.232 0; 1.264 0; &# 160; 1.283 &# 160; 1.302
Telephone License Tax & #160; 0; &# 160; 0; 0.212 0; &# 160; 0.033 &# 160; 0.000 0; 0.000
Total General Fund $1,265.713 $1,195.014$1,241.443$1,296.456 SIGNIFICANT ASSUMPTIONS FOR GENERAL FUND REVENUE ESTIMATES
Revenue and Transportation Interim Committee
Year Assumption 0; &# 160; 0; &# 160; 2002 0; &# 160;2003 &# 160; 2004 0; 2005
Individual Income Tax
FY Income Tax Audit Collections (Millions) &# 160; 0; $18.573&# 160; $16.800 60; & #160; $18.700 ; $18.700
CY Taxpayer Population (Percent Change) 60; & #160; 0;0.73% 60; 0.92% 1.23% 60; 1. 39%
FY 30% Bonus Depreciation (Percent Change) 60; & #160; 100.00% 60; (1 6.67%) 0; (30.00%) & #160; (119.43%)
Income Indicators
CY Wage and Salary Income (Percent Change) 60; & #160; 3.70% ; 60; 4.20% &# 160; 4.80% ; 60; 5.00%
CY Net Farm Income (Percent
Change)
60; &
#160;
0; (26.40%) &
#160;
0.59%
; (13.87%)
6.94%
CY Interest Income (Percent Change) 60; & #160; 0; (22.77%) & #160; (11.22%) &# 160; 27.20% 0; 10.00%
CY Dividend Income (Percent Change) 60; & #160; 0; 3.58% 60; & #160; 4.81% 0; 2.71% 60; & #160; 2.34%
CY Rent, Royalty, and
Partnership Income (Percent Change) 60; & #160; 0; 7.38% 60; & #160; 8.40% 0; 8.06% 60; & #160; 7.16%
CY Net Business Income (Percent Change) 60; & #160; 1.22% 60; 0. 86% 1.48 % &# 160; 0.72%
CY Capital Gains and Losses
(Percent
Change)
60; &
#160;
0; &#
160;
(28.00%)
CY Supplemental Gains (Percent
Change)
60; &
#160;
(11.97%)
CY Social Security Income (Percent Change) 60; & #160; 7.46% ; 60; 6.75% &# 160; 6.18% ; 60; 5.69%
CY IRA Income (Percent Change) 60; & #160; 0; &# 160; 0.49% & #160; 3.87% ; 60;8.04% &# 160; < /span>8.04%
CY Pension Income (Percent Change) 60; & #160; 0; 0.49% 60; & #160; 3.87% 0; 5.89% 60; & #160; 5.89%
CY Other Income (Percent
Change)
60; &
#160;
0; 0.0
0% &
#160; 0.00%
0; 0.00%
CY Bond Interest (Percent
Change)
60; &
#160;
0; 5.3
0% &
#160; 4.25%
0; 6.98%
CY Federal Income Tax Refunds
(Percent
Change)
60; &
#160;
0; &#
160;
15.4
8% &
#160; 0.37%
0; 8.70%
CY Other Additions to Income
(Percent Change) 60; & #160; 0; &# 160; 0;8.58% 60; 0.67% 5.55% 60; 4. 31%
CY IRA Deduction (Percent Change) 60; & #160; 0; 8.55% 60; & #160; 5.38% 0; 4.41% 60; & #160; 7.37%
CY Reductions to Income (Percent
Change)
60; &
#160;
(2.91%)
Deductions From Income
CY Medical Premiums (Percent Change) 60; & #160; 0; 5.87% 60; & #160; 5.87% 0; 5.87% 60; & #160; 5.87%
CY Medical Deductions (Percent Change) 60; & #160; 16.85% &# 160; 8.51% ; 6.20 % &# 160; 6.78%
CY Real Estate Tax (Percent Change) 60; & #160; 0; 3.00% 60; & #160; 3.00% 0; 3.00% 60; & #160; 3.00%
CY Prior Year Federal Tax Payments
(Percent Change) 60; & #160; 0; &# 160; 0;1.31% 60; 3.33% 3.22% 60; 3. 12%
CY Motor Vehicle Taxes and Fees
(Percent Change) 60; & #160; 0; &# 160; 0;2.00% 60; 2.00% 2.00% 60; 2. 00%
CY Home Mortgage (Percent Change) 60; & #160; 0; 0.85% 60; & #160; 3.78% 0; 9.27% 60; & #160; 9.95%
CY Contributions (Percent
Change)
60; &
#160;
0; 7.8
4% &
#160; 9.96%
0; 7.44%
CY Gambling Losses (Percent Change) 60; & #160; 0; 0.00% 60; & #160; 0.00% 0; 0.00% 60; & #160; 0.00%
CY Total Itemized Deductions
(Percent
Change)
60; &
#160;
0; &#
160;
(0.20%) &
#160; 3.79%
0; 4.44%
Credits
CY Home Owner and Renter Credit (Millions) &# 160; 0; $9.640 60; & #160; $9.736 0; $9.834 60; & #160;$10.031
CY All Credits (Percent Change) 60; & #160; 0; &# 160;(19.19%) ; 20.31 60; 1.94% 3.57%
CY Planned Gifts (Percent Change) 60; & #160; 0; (52.93%) & #160; 78.98% 0; &# 160; (10.40%) ; (4.8 4%)
Other Individual Income Tax Assumptions
CY Tax Liability (Millions) &# 160; 0; &# 160; $505.564&# 160; $519.529 &# 160; $558.116 60; $590.477
CY Current Calendar Year to
Fiscal Year Conversion 0; &# 160; 0; &# 160; 52.1% ; 60;52.1% &# 160; < /span>52.1% 52.1%
CY Previous Calendar Year to
Fiscal Year Conversion & #160; 0; &# 160; 0; 47.9% 60; & #160; 47.9% 0; 47.9% 60; & #160; 47.9%
FY Fiscal Year 2002 Base (Millions) &# 160; 0; &# 160; $517.568
Property Taxes: Taxable Value and Other Property Tax Indicators
Taxable Value--40-Mill, 55-Mill, and 1.5-Mill Levies
FY Property Class One (Millions) &# 160; 0; &# 160; $7.843 0; $8.691 & #160; $8.691 0; $8.691
FY Property Class Two (Millions) &# 160; 0; &# 160; $11.015 0; $10.669 &# 160; $8.753 0; &# 160; $8.479
FY Property Class Three
(Millions) &#
160;
0; &#
160; $139.057
;
60; $138.900
$141.803
FY Property Class Four (Millions) &# 160; 0; &# 160; $954.102 60; $1,002.874 0; $1,061.830 $1,1 43.202
FY Property Class Five (Millions) &# 160; 0; &# 160; $35.668 0; $35.382 &# 160; $36.373 60; & #160; $37.391
FY Property Class Six
(Millions) &#
160;
0; &#
160;
$12.459
60; $3.824
$0.0
00 &#
160; $0.000<
/p>
FY Property Class Seven
(Millions) &#
160;
0; &#
160; $0.189<
span>
$0.216
0; &#
160; $0.255 &
#160;
$0.300
FY Property Class Eight (Millions) &# 160; 0; &# 160; $116.605 ; 60; $120.058 $124 .620 $129.356
FY Property Class Nine (Millions) &# 160; 0; &# 160; $219.956 60; $206.360 $210.487 $214.697
FY Property Class Ten (Millions) &# 160; 0; &# 160; $8.199 0; &# 160;$7.170 & #160; $6.838 60; $6.894
FY Property Class Twelve (Millions) &# 160; 0; &# 160; $48.658 0; $46.688 &# 160; $47.896 60; $48.394< /span>
FY Property Class Thirteen (Millions) &# 160; 0; &# 160; $144.488 ; $13 7.185 $139.929 &# 160; $142.727
FY Total Taxable Value (Millions) &# 160; 0; &# 160; $1,671.590 60; $ 1,691.086 &# 160; $1,758.923 60; $1,855.234
Other Property Tax Indicators
FY Tax Increment Finance Value (Millions) &# 160; 0; $30.530&# 160; $30.803 60; & #160; $32.423 ; $34.129
FY Property Tax Abatement Value (Millions) &# 160; 0; $3.880 60; & #160; $3.870 0; $3.870 60; & #160; $3.870
FY Taxable Value in Vo-Tech Counties
(Millions)
0; &#
160;
0; &#
160;
0; $563.452 &
#160; $587.107
Property Tax Nonlevy Revenue
FY 40-Mill Nonlevy Revenue (Millions) &# 160; 0; &# 160; $4.650 & #160; $4.592 0; &# 160; $4.979 & #160; $4.936
FY 40-Mill Adjustments (Millions) &# 160; 0; &# 160; < /span>($9.888) 0; ($8.475)& #160; ($7.063) 60; & #160; ($5.650)
FY 55-Mill Nonlevy Revenue (Millions) &# 160; 0; &# 160; $16.144 0;$16.056 &# 160; $16.734 0; $16.572
FY 55-Mill Adjustments (Millions) &# 160; 0; &# 160; $0.000 0; ($0 .430) ($0.430) 60; & #160; ($0.430)
FY 1.5-Mill Nonlevy Revenue (Millions) &# 160; 0; &# 160; $0.020 & #160; $0.000 0; &# 160; 0.000 &# 160; $0.000
FY 1.5-Mill Adjustments (Millions) &# 160; 0; &# 160; < /span>$0.034 $0.0 00 &# 160; $0.000& #160; $0.000
Vehicle Tax
FY Large Trucks Growth Rate
(Percent Change) 60; & #160; 0; &# 160; 0;0.00% 60; 2.10% 2.10% 60; 2. 10%
FY Motor Home Growth Rate (Percent Change) 60; & #160; 0.00% ; 60; 2.10% &# 160; 2.10% ; 60; 2.10%
FY Light Vehicle Growth Rate
(Percent Change) 60; & #160; 0; &# 160; 0;0.00% 60; 2.10% 2.10% 60; 2. 10%
FY Boat and Snowmobile Growth Rate
(Percent Change) 60; & #160; 0; &# 160; 0;0.00% 60; 2.10% 2.10% 60; 2. 10%
FY New Light Vehicle Registration
Growth Rate (Percent Change) 60; & #160; 0; &# 160; 0.00% & #160; 2.10% ; 60; 2.10% &# 160; 2.10%
Corporation License Tax
FY U.S. Profits (Billions) &# 160; 0; &# 160; $666 .200 $761.500 &# 160; $794.000 &# 160; $819.600
FY Penalty and Interest (Millions) &# 160; 0; &# 160; $1.659 0; $0.000 & #160; $0.000 0; $0.000
FY Corporate Income Tax Audits (Millions) &# 160; 0; $4. 257 & #160; $4.500 0; $4.000 60; & #160; $3.500
FY Depreciation (Millions) &# 160; 0; &# 160; 0;$0.000 60; ($5.000)< span> ($3.500) 60; & #160; $0.680
FY Adjustments (Millions) &# 160; 0; &# 160; 0;$0.000 60; ($9.000)< span> $0.000 0; &# 160; $0.000
Insurance Premiums Tax and License Fees
FY General Fund Fee Revenue
(Millions) &#
160;
0; &#
160;$0.291 &
#160; $0.291
60; $0.291
$0.291
FY Genetics Fee (Millions) &# 160; 0; &# 160; $0.5 70 &# 160; $0.575& #160; $0.575 0; &# 160; $0.575
FY Premiums Tax (Millions) &# 160; 0; &# 160; $47.678 60; & #160; $52.823 ; 60; $56.790 & #160; $59.19 3
FY Offsets (Millions) &# 160; 0; &# 160; 0; $0.736 60; & #160; $1.843 0; $1.218 60; & #160; $1.218
FY Refunds (Millions) &# 160; 0; &# 160; 0; $0.513 60; & #160; $0.400 0; $0.400 60; & #160; $0.400
Video Gambling Tax
FY Video Machine Net Income (Millions) &# 160; 0; $2 90.307 ; $296.114 &# 160; $302.036 &# 160; $308.076
Motor Vehicle Fee--General Fund Allocations
FY Motor Vehicle Registration Fee
(Millions) 0; &# 160; 0; &# 160; 0; $21.180 &# 160; $21.491 60; $22.007< span> $22.535
FY Recording of Liens Fee (Millions) &# 160; 0; &# 160; $0.728 & #160; $0.745 0; &# 160; $0.763 & #160; 0.782
FY Title Fee (Millions) &# 160; 0; &# 160; 0; $2.353 60; & #160; $2.409 0; $2.467 60; & #160; $2.526
FY Personal License Plate Fee (Millions) &# 160; 0; &# 160; $1.270 & #160; $1.300 0; $1. 331 & #160; $1.363
FY New License Plate Fee (Millions) &# 160; 0; &# 160; $0.525 & #160; $0.537 0; &# 160; $0.550 & #160; $0.563
FY Computer Fee (Millions) &# 160; 0; &# 160; ($0.001) 60; & #160; $0.000 0; $0.000 60; & #160; $0.000
FY Highway Patrol Fee (Millions) &# 160; 0; &# 160; $0.024 0; $0.000 & #160; $0.000 0; $0.000
FY Senior Citizen Transit Fee (Millions) &# 160; 0; &# 160; $0.109 & #160; $0.111 0; &# 160;$0.114 & #160; $0.117
FY Other Fees (Millions) &# 160; 0; &# 160; 0; $1.084 60; & #160;$1.110 $1.137 &# 160; $1.164< /span>
U.S. Mineral Royalty
CY Oil Production (Millions of Barrels) 0; &# 160; 0; 2.920 0; &# 160; 2.955 &# 160; 2.987 0; 3.101
CY Coal Production (Millions of Tons) 0; &# 160; 24.299 0; &# 160; 22.001 & #160; 23.315 0; &# 160; 20.827
CY Natural Gas Production (MMCF) 60; & #160; 0; 23.708 60; & #160; 25.719 0; 27.569 60; & #160; 29.271
CY Oil Price (Per Barrel) 0; &# 160; 0; &# 160; < /span>$22.519 0; $21.711&# 160; $21.224 60; & #160; $20.737
CY Coal Price (Per Ton) 0; &# 160; 0; &# 160; $8.465 & #160; $8.300 0; $8. 195 & #160; $7.730
CY Natural Gas Price (Per
MCF)
0; &#
160;
0; $2.574
60; $3.842
$3.7
27 &#
160; $3.624<
/p>
CY Oil Royalty Rate
(Percent)
60; &
#160;
0; &#
160; 10.97%
0; 10.94% &#
160;
10.96%
0; 10.
93% CY Coal Royalty Rate
(Percent)
60; &
#160;
0; &#
160; 12.34%
0;12.32% &#
160; 12.32%
0; 12.33% CY Natural Gas Royalty Rate
(Percent)
60; &
#160;
0; 12.28% &#
160;
12.29%
0; 12.
29%
12.30% CY Other
Royalties
(Millions) &#
160;
0; &#
160;
$0.108
0; &#
160; $0.108 &
#160;
$0.107
0; &#
160;$0.108 CY Rent and
Bonus
(Millions) &#
160;
0; &#
160;
$4.432
0; &#
160; $4.450 &
#160;
$4.426
0; $4.226 CY Administratio
n Fee
(Millions) &#
160;
0; &#
160;
$0.000
; $0.000
FY One-Time Settlement
(Millions) &#
160;
0; &#
160;
$0.000
; $0.000
Telecommunications Excise Tax
FY Taxable Gross Receipts
(Millions) &#
160;
0; &#
160; $525.235
; $535.991
$560.013 &#
160; <
/span>$585.963
FY Credits (Millions) &# 160; 0; &# 160; 0; $0.135 60; & #160; $0.000 0; $0.300 60; & #160; $0.300
Tobacco Settlement
FY Volume Change (Percent Change) 60; & #160; 0; (4.58%) &# 160; (1.50%) 60; (1.00%) ; (1.00%)
FY Cumulative Volume Change
(Percent
Change)
60; &
#160;
0; &#
160;
(19.22%)
FY CPI Change (Percent Change) 60; & #160; 0; &# 160;3.00% & #160; 3.00% ; 3.00% &# 160; 3.00%
FY Cumulative CPI Change (Percent Change) 60; & #160; 9.68% ; 60; 12.97% & #160; 16.36% 0; 19.85%
FY Operating Income Adjustment
(Millions) &#
160;
0; $0.000
FY Subsequent Manufacturer's Payment
(Millions)
0; &#
160;
0; &#
160;
0; $144.418 &
#160; $163.154
Public Institution Reimbursements
FY Private Payments (Millions) &# 160; 0; &# 160; $1.483 0; &# 160; $2.165 & #160; $2.181 0; &# 160;$2.200
FY Insurance Payments (Millions) &# 160; 0; &# 160; < /span>$0.317 $0.5 45 &# 160; $0.556& #160; $0.555
FY Medicaid Payments (Millions) &# 160; 0; &# 160; $10.995 0; $14.811 &# 160; $14.740 60; & #160;$14.832
FY Medicare Payments (Millions) &# 160; 0; &# 160; $1.488 0; $2.578 & #160; $2.629 0; $2.624
FY Debt Service MT Developmental Center
(Millions) 0; &# 160; 0; &# 160; 0; ($1.075) & #160; ($1.075) 60; ($ 1.079) ; ($1.076)
FY Debt Service MT State Hospital
(Millions) 0; &# 160; 0; &# 160; 0; ($1.911) & #160; ($1.911) 60; ($ 1.909) ; ($1.909)
FY Adjustments (Millions) &# 160; 0; &# 160; 0;$0.000 60; ($1.573)< span> ($3.180) 60; & #160; ($3.180)
Estate Tax
FY Annual Change in Tax (Percent Change) 60; & #160; (31.89%) &# 160; (26.51%) &# 160; (25.98%) 60; (38.47%)
Oil Production Tax
CY Oil Production (Million Barrels) 0; &# 160; 0; 16. 191 & #160; 16.383 0; 16.560 60; & #160; 16.812
CY Montana Oil Price
(Weighted
Price/Barrel)
0; &#
160;
0; &#
160;$23.13 &
#160; $22.30
60; $21.80
$21.30
CY Exempt Value of Production (Millions) &# 160; 0; $1 3.632 $13.308 60; & #160; $13.158 ; 60; $13.035
CY Effective Tax Rate (Percent) 60; & #160; 0; &# 160; 10.26% 0;10.17% &# 160; 10.09% 0; 9.98%
Natural Gas Production Tax
CY Natural Gas Production (MMCF) 60; & #160; 0; 84.504 60; & #160; 91.671 0; 98.266 60; & #160; 104.332
CY Montana Natural Gas Price
(Weighted Price/MCF) & #160; 0; &# 160; 0; $2.01 0; &# 160; $3.00 &# 160; $2.91 0; $2.83
CY Exempt Value of Production (Millions) &# 160; 0; &# 160;$7.637 & #160; $12.119 60; $12.399 & #160; $12.633
CY Effective Tax Rate (Percent) 60; & #160; 0; &# 160; 10.44% 0;10.29% &# 160; 10.17% 0; 10.06%
Treasury Cash Account Interest
FY TCA Average Balance w/TRANS (Millions) &# 160; 0; $273.343 & #160; $302.847 0; &# 160; $302.176 ; $30 2.345
FY TCA Average Yield (Percent) 60; & #160; 0; &# 160; 4.83% & #160; 3.70% ; 60; 4.65% &# 160; 5.73%
FY TRANS Issue Size (Millions) &# 160; 0; &# 160; $0.000 0; $92.800 $65.500 60; & #160; $65.500
Liquor Excise and License Tax
FY Tribal Distributions (Millions) &# 160; 0; &# 160; ($0.133) 60; ($ 0.138) ; ($0.144) &# 160; ($0.149)
Coal Severance Tax
CY Severance Tax Coal Production
(Million Tons) 0; &# 160; 0; &# 160; 33.392 0; &# 160; 32.806 & #160; 33.065 0; &# 160;29.950
CY Montana Contract Sales Price
(Weighted CSP/Ton) &# 160; 0; &# 160; 0; $6.293 60; & #160; $6.219 0; $6.219 60; & #160; $5.957
Cigarette Tax
FY Cigarette Packs (Millions) &# 160; 0; &# 160; 67.334 0; &# 160; 67.195 & #160; 66.288 0; &# 160; 65.459
FY Effective Tax Rate Per Pack (Cents) 0; &# 160; 0; 16.41 0; &# 160; 16.41 &# 160; 16.41 0; 16.41
FY Tribal Distribution
(Millions) &#
160;
0; &#
160;
($0.254)
60; &
#160;($0.254)
0; ($0.250)
($0.247)
Lottery Profits
FY Total Lottery Sales (Millions) &# 160; 0; &# 160; $33.632 60; $30.597< span> $30.765 60; & #160; $30.933
FY Lottery Interest Earnings (Millions) &# 160; 0; &# 160; $0.146 & #160; $0.089 0; &# 160; $0.132 & #160; $0.192
FY Other Revenue (Millions) &# 160; 0; &# 160; $0.039 0; &# 160; $0.039 & #160; $0.039 0; &# 160; $0.039
FY Lottery Operating Budget (Millions) &# 160; 0; &# 160; $6.855 & #160; $6.855 0; &# 160; $6.924 & #160; $6.993
FY Lottery Prizes and Commissions
(Millions) 0; &# 160; 0; &# 160; 0; $19.086 &# 160; $17.660 60; $17.757< span> $17.854
Nursing Facilities Fee
FY Bed Days (Millions) &# 160; 0; &# 160; 0; 2.073 0; &# 160; 2.044 &# 160; 2.025 0; 2.009
Liquor Profits
FY Gross Liquor Sales (Millions) &# 160; 0; &# 160; < /span>$62.515 0; $64.730&# 160; $67.260 60; & #160; $69.791
FY Cost of Goods Sold (Millions) &# 160; 0; &# 160; < /span>$35.767 0; $37.117&# 160; $38.682 60; & #160; $40.256
FY Liquor Discounts and Commissions
(Millions) 0; &# 160; 0; &# 160; 0; $6.797 60; & #160; $7.038 0; $7.313 60; & #160; $7.589
FY Liquor Operating Costs (Millions) &# 160; 0; &# 160; $1.416 & #160; $1.530 0; &# 160; $1.519 & #160; $1.523
FY Other Income (Millions) &# 160; 0; &# 160; $0.0 01 &# 160; $0.000& #160; $0.000 0; &# 160; $0.000
Investment License Fee
FY License Registration (Percent
Change)
60; &
#160;
(15.23%)
FY Portfolio Growth (Percent Change) 60; & #160; 0; (3.41%) &# 160; 1.00% ; 60; 1.00% &# 160; 1.00%
FY Expense Growth (Percent Change) 60; & #160; 0; 49.16% &# 160; 3.00% ; 60; 0.00% &# 160; 0.00%
Electrical Energy Tax
FY Kilowatt Hours Produced (Millions) &# 160; 0; 21, 642.219 0; 21,645.402 22,040.741 & #160; 22,417.203
Highway Patrol Fines
FY Highway Patrol Fines (Percent Change) 60; & #160; 2.04% 60; 1. 98% 1.98 % 0; 1.98%
Metalliferous Mines Tax
CY Copper Production (Million lb) &# 160; 0; &# 160; 0.343 0; 0.391 0; &# 160; 0.391 &# 160; 0.391
CY Silver Production (Million oz) & #160; 0; &# 160; 0.748 0; 0.751 0; &# 160; 0.738 &# 160; 0.738
CY Gold Production (Million oz) & #160; 0; &# 160; 0.184 0; 0.219 0; &# 160; 0.076 &# 160; 0.076
CY Lead Production (Million lb) &# 160; 0; &# 160; 10.768 0; &# 160; 10.768 & #160; 10.768 0; 10. 768
CY Zinc Production (Million lb) &# 160; 0; &# 160; 23.819 0; &# 160; 23.819 & #160; 23.819 0; 23.819
CY Molybdenum Production (Million lb) &# 160; 0; &# 160; 0.000 &# 160; 0.000 0; 0.000 0; &# 160; 0.000
CY Palladium Production (Million oz) & #160; 0; &# 160; 0.493 &# 160; 0.563 0; 0.563 0; &# 160; 0.563
CY Platinum Production (Million
oz) &
#160;
0; &#
160; 0.147
0.16
7
60; 0.
167 &
#160; 0.167
CY Nickel Production (Million lb) &# 160; 0; &# 160; 0.769 0; 0.878 0; &# 160; 0.878 &# 160; 0.878
CY Rhodium Production (Million
oz) &
#160;
0; &#
160; 0.004
0.00
5
60; 0.
005 &
#160; 0.005
CY Sapphire Production (Million
oz) &
#160;
0; &#
160; 0.000
0.00
0
60; 0.
000 &
#160; 0.000
CY Iron Oxide Production (Million
lb) &#
160;
0; &#
160; 0.000&#
160;
0.000
0; 0.000
CY Copper Sulfide Production (Million lb) &# 160; 0; &# 160; 0.000 0.000 60; 0.000 & #160; 0.000
CY Copper Price (Per lb) &# 160; 0; &# 160; 0;$0.635 60; $ 0.630 $0.633 60; $0.631
CY Silver Price (Per oz) & #160; 0; &# 160; 0; $4.630 60; & #160;$4.440 $4.680 &# 160; $4.900< /span>
CY Gold Price (Per oz) & #160; 0; &# 160; $306.000 $322.000 &# 160; $332.000 &# 160; $324.000
CY Lead Price (Per lb) &# 160; 0; &# 160; 0; $0.219 60; & #160; $0.215 0; $0.213 60; $0.216
CY Zinc Price (Per lb) &# 160; 0; &# 160; 0; $0.378 60; & #160; $0.378 0; $0.378 60; & #160;$0.378
CY Molybdenum Price (Per lb) &# 160; 0; &# 160; $0.000 0; &# 160; $0.000 & #160; $0.000 0; $0.000
CY Palladium Price (Per oz) & #160; 0; &# 160; $321.000 &# 160; $321.000 60; $321.000 0; $321.000
CY Platinum Price (Per oz) & #160; 0; &# 160; $500.000 &# 160; $500.000 &# 160; $500.000 ; 60; $500.000
CY Nickel Price (Per lb) &# 160; 0; &# 160; 0; $2.025 60; & #160;$2.025 $2.025 &# 160; $2.025< /span>
CY Rhodium Price (Per oz) & #160; 0; &# 160; $1,404.395 & #160; $1,404.395 &# 160; $1,404.395 & #160; $1,404.395
CY Sapphire Price (Per oz) & #160; 0; &# 160; $0.000 0; &# 160; $0.000 & #160; $0.000 0; &# 160; $0.000
CY Iron Oxide Price (Per lb) &# 160; 0; &# 160; $0.000 0; &# 160; $0.000 & #160; $0.000 0; &# 160; $0.000
CY Copper Sulfide Price (Per lb) &# 160; 0; &# 160; $0.000 0; $0.000 & #160; $0.000 0; $0.000
FY Effective Tax Rate (Percent) 60; & #160; 0; &# 160; 1.61% & #160; 1.61% ; 60; 1.61% &# 160; 1.61%
Public Contractor's Tax
FY Tax Before Credits (Millions) &# 160; 0; &# 160; $5.055 0; &# 160; $5.282 & #160; $5.995 0; $6. 037
FY Credits and Refunds (Millions) &# 160; 0; &# 160; < /span>$1.788 $2.6 03 &# 160; $2.640& #160; $2.681
Wholesale Energy Tax
CY Kilowatt Hours (Millions) &# 160; 0; &# 160; 22,987.512 & #160; 23,398.127 &# 160; 23,794.854 & #160; 24,218.358
FY Kilowatt Hours (Millions) &# 160; 0; &# 160; 22,775.158 & #160; 22,489.410 &# 160; < /span>22,880.160 &# 160; 23,278.167
FY Credits for Taxes Paid (Million) 60; & #160; 0; $0. 000 & #160; $0.000 0; $0.000 60; & #160; $0.000
Beer Tax
FY Beer Barrels (Million) 60; & #160; 0; &# 160; 0.881 0; 0.924 0; &# 160; 0.968 &# 160; 1.014
FY Tribal Distribution (Million) 60; & #160; 0; &# 160; ($0.035) 0; ($0.037) & #160; ($0.03 9) &# 160; ($0.041)
FY Effective Tax Rate (Percent) 60; & #160; 0; &# 160; 4.17% & #160; 4.17% ; 60; 4.17% &# 160; 4.17%
Driver's License Fees
FY Driver's License Fees (Millions) &# 160; 0; &# 160; $1.979< span> $1.633 0; &# 160; $1.649 & #160; $1.665
FY Duplicate License Fees (Millions) &# 160; 0; &# 160; $0.095 & #160; $0.079 0; &# 160; $0.079 & #160; $0.080
FY Motorcycle Endorsement Fees (Millions) &# 160; 0; $0.015 60; & #160; $0.130 0; $0.131 60; & #160; $0.132
FY Interstate Commercial Vehicle
Endorsement (Millions) &# 160; 0; &# 160; 0; $0.420 60; & #160; $0.420 0;$0.420 60; $ 0.420
FY Intrastate Commercial Vehicle
Endorsement (Millions) &# 160; 0; &# 160; 0; $0.093 60; & #160; $0.093 0;$0.093 60; $ 0.093
Tobacco Tax
FY Value of Tobacco Products
(Millions) &#
160;
0; &#
160;$17.828
$18.473
FY Tribal Distribution
(Millions) &#
160;
0; &#
160;
($0.046)
60; &
#160;($0.047)
0; ($0.049)
($0.051)
Railroad Car Tax
CY Total MT Market Value of Fleets
(Millions) 0; &# 160; 0; &# 160; 0; $89.657 &# 160; $93.550 60; $95.585< span> $97.160
CY Taxable Value Rate (Percent) 60; & #160; 0; &# 160; 4.21% & #160; 4.02% ; 60;4.00% &# 160; < /span>3.92%
CY 95% of Industrial and
Commercial Mill Levy 0; &# 160; 0; &# 160; 400.980 0;419.250 &# 160; 441.320 0; 441.320
Wine Tax
FY Wine Liters (Million) 60; & #160; 0; &# 160; 6.725 0; 6.905 0; &# 160; 7.007 &# 160; 7.109
FY Tribal Distribution (Million) 60; & #160; 0; &# 160; ($0.021) 0; ($0.022) & #160; ($0.02 2) &# 160; ($0.022)
SELECTED NONGENERAL FUND REVENUE
The projections for selected nongeneral fund revenue during the 2005 biennium are based on the assumption of a continuation of Montana law as it existed on January 1, 2003. The revenue estimates contained in the following table are based on the assumptions listed in the tables that follow the nongeneral fund estimates and the assumptions for each nongeneral fund revenue source contained in the "Revenue Estimates as Adopted by the Revenue and Transportation Interim Committee" report prepared by the Legislative Fiscal Division.
Current Law
Selected Nongeneral Fund Revenue Estimates
(In Millions of Dollars)
Source of Revenue 60; & #160; 0; &# 160; 0;Actual 60; Estimated 0; Estimated Estimated
& #160; FY 2002 0; &# 160; 0; &# 160; FY 2003 FY 2004 FY 2005
Gasoline Tax & #160; 0; &# 160; 0; &# 160; $128.001 ; 60; $128.696 $129.415&# 160; $130.128
Diesel Tax & #160; 0; &# 160; 0; &# 160; 56.094 0; &# 160;56.951 & #160; 57.821 60; 58.703
Common School Interest and
Income
0; &#
160;
0; &#
160;1.938 &#
160;
51.175
; 49.745
GVW and Other Fees 0; &# 160; 0; &# 160; 27.266& #160; 27.037 0; &# 160; 26.729 & #160; 26.377
Federal Forest Receipts 60; & #160; 0; &# 160; 13.475 0; &# 160; 13.583 & #160; 13.775 0; &# 160; 13.976
Lodging Facility Use Tax & #160; 0; &# 160; 0; 11.901 60; & #160; 12.441 0; 13.005 60; 13.595
6-Mill Property Tax & #160; 0; &# 160; 0; &# 160; 11.806 & #160; 11.627 0; 12. 120 & #160; 12.685
PPL-Montana 6-Mill Protested Property Tax
Payments &#
160;
0
Resource Indemnity Trust Interest 0; &# 160; 0; &# 160; 7.321 &# 160; 7.376 0; 7.377 0; &# 160; 7.379
Treasure State Endowment Trust Interest 0; &# 160; 0; 6.805 0; &# 160; 7.201 &# 160; 7.871 0; 8.472
Gasoline Storage Tank Tax & #160; 0; &# 160; 0; 3.729 0; &# 160; 3.750 &# 160; 3.770 0; 3.790
Resource Indemnity Trust Tax & #160; 0; &# 160; 2.20 1 60; 1. 080 & #160; 1.055 0; 1.062
Diesel Storage Tank Tax & #160; 0; &# 160; 0; 2.166 0; &# 160; 2.229 &# 160; 2.220 0; 2.200
Parks Trust Interest Earnings
0; &#
160;
0; &#
160; 1.106
1.11
4
0; 1.127
Capital Land Grant Interest and Income 0; &# 160; 0; 1.101 0; &# 160; 0.827&# 160; 0.822 0; 0.613
Tobacco Trust Interest Earnings 60; & #160; 0; &# 160; 0.968 &# 160; 1.741 0; 2.464 0; &# 160; 3.253
Regional Water Trust Interest
Earnings
60; &
#160;
0; 0.643
1.40
4
60; 1.
670
Pine Hills Interest and Income 0; &# 160; 0; &# 160; 0.355 0.348 60; 0.358 & #160; 0.363
Arts Trust Interest Earnings 60; & #160; 0; &# 160; 0.305 0; 0.314 0; &# 160; 0.322 &# 160; 0.337
9-Mill Property Tax & #160; 0; &# 160; 0; &# 160; 0.286 &# 160; 0.000 0; 0.000 0; &# 160; 0.000
Deaf and Blind Trust Interest and Income 0; &# 160; 0; 0.284 0; &# 160; 0.292 &# 160; 0.295 0; 0.298
Total Nongeneral Fund 0; &# 160; 0; &# 160; 277.752 0; 328.802 &# 160; 331.562 0; 335.549
SELECTED ASSUMPTIONS FOR NONGENERAL FUND REVENUE ESTIMATES
Revenue and Transportation Interim Committee
Year Assumption
0; &#
160;
0; &#
160;
2002
0; 2003
0; &#
160; 2004
Gasoline Tax
FY Taxable Gallons of Gasoline (Millions) &# 160; 0; 50 4.614 507.328 60; & #160; 510.057 ; 60; 512.800
FY Taxable Gallons of Gasoline--
Storage Tank Cleanup (Millions) &# 160; 0; &# 160; 497.261 0; 499.936 &# 160; 502.624 60; & #160; 505.328
FY Refunds (Millions) &# 160; 0; &# 160; 0; ($3.153) & #160; ($3.170) 60; ($ 3.187) ; ($3.204)
FY Tribal Distribution
(Millions) &#
160;
0; &#
160;
($3.729)
60; &
#160;($3.743)
0; ($3.736)
($3.740)
FY Alcohol Incentive (Millions) &# 160; 0; &# 160; $0.000 0; &# 160; $0.000 & #160; $0.000 0; &# 160; $0.000
Diesel Tax
FY Taxab le Gallons of Diesel (Millions) &# 160; 0; 21 8.597 221.936 60; & #160; 225.325 ; 60; 228.766
FY Taxable Gallons of Diesel--
Storage Tank Cleanup (Millions) &# 160; 0; &# 160; 288.854 0; 297.210 &# 160; 296.035 60; & #160; 293.265
FY Refunds (Millions) &# 160; 0; &# 160; 0; ($3.960) & #160; ($4.020) 60; ($ 4.082) ; ($4.144)
GVW Fees
FY GVW Fees (Millions) &# 160; 0; &# 160; $8.814 &# 160; $8.868< span> $8.922 0; &# 160; $8.977
FY Form
3 GVW Fees
(Millions) &#
160;
0; &#
160;
$0.860
; $0.843
FY Trip Permit Fees (Millions) &# 160; 0; &# 160; $0.441 0; &# 160; $0.441 & #160; $0.441 0; $0. 441
FY Count
y GVW Fees
(Millions) &#
160;
0; &#
160;
$8.933
; $8.135
FY New Car Sales Tax (Millions) &# 160; 0; &# 160; ($0.640) 0; $0.000 60; & #160; $0.000 0; $0.000
FY Over weight Trip Permit Fees (Millions) &# 160; 0; $1.845 60; & #160; $1.954 0; $2.067 60; & #160; $2.172
FY Specia l Permit Fees (Millions) &# 160; 0; &# 160; $0.903& #160; $0.910 0; &# 160; $0.923 & #160; $0.932
FY Temp orary Fuel Permits (Millions) &# 160; 0; &# 160; $0.108 & #160; $0.111 0; &# 160;$0.111 & #160; $0.111
FY Other Fees (Millions) &# 160; 0; &# 160; $0.4 01 &# 160; $0.401& #160; $0.401 0; &# 160; $0.401
Other 6-Mill Levy Indicators (See General Fund Property Tax Assumptions for Other Detail)
FY Taxable Value (Millions) &# 160; 0; &# 160; $1,698.239 & #160; $1,718.019 &# 160; < /span>$1,791.346 &# 160; $1,889.363
FY Nonlevy Revenue (Millions) &# 160; 0; &# 160; $1.579 0; &# 160; $1.319 & #160; $1.393 0; $1.370
FY 6-Mill Adjustments (Millions) &# 160; 0; &# 160; $0.000 0; &# 160; $0.000 & #160; $0.000 0; $0. 000
- END -
I hereby certify that the within joint resolution,
HJ 0002, originated in the House.
Chief Clerk of the House
Speaker of the House
Signed this & #160; 0; &# 160; 0; &# 160; 0; &# 160; day
of & #160; 0; &# 160; 0; &# 160; 0; &# 160; , 2003.
Latest Version of HJ 2 (HJ0002.ENR)
Processed for the Web on April 24, 2003 (11:17am)
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 this bill for the bill's primary sponsor.
Status of this Bill | 2003 Legislature | Leg. Branch
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