2007 Montana Legislature

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HOUSE JOINT RESOLUTION NO. 2

INTRODUCED BY B. LAKE, J. COHENOUR

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 FISCAL YEAR 2007 AND EACH FISCAL YEAR OF THE 2008-2009 BIENNIUM FOR THE PURPOSE OF ACHIEVING A BALANCED BUDGET AS REQUIRED BY ARTICLE VIII, SECTION 9, OF THE MONTANA CONSTITUTION; ACCEPTING A PRELIMINARY JUNE 30, 2006, 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 2007, 2008, AND 2009.

 

     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 5-5-227(2), 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; and

     WHEREAS, section 5-5-227(3), 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, the Revenue and Transportation Interim Committee obtained the assistance of the Legislative Fiscal Analyst in the development of the revenue estimates; and

     WHEREAS, the Revenue and Transportation Interim Committee also obtained 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 fiscal year 2007 and the 2008-2009 biennium; and

     WHEREAS, section 5-5-227(3), MCA, provides that the Revenue and Transportation Interim Committee's estimate, as introduced in the Legislature, constitutes the Legislature's current revenue estimate until amended or until final adoption of the estimate by both houses; 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 2007, 2008, and 2009 be estimated to be $1,762,355,000, $1,797,764,000, and $1,875,209,000, respectively.

     BE IT FURTHER RESOLVED, that the Legislature accept for budget purposes the preliminary unreserved fiscal year 2006 fund balance of $407,186,365 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 2007, 2008, and 2009.

GENERAL FUND REVENUE

     The projections for total general fund revenue for fiscal years 2007, 2008, and 2009 are based on the assumption of a continuation of Montana law as it existed on January 1, 2007. 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 "Legislative Budget Analysis, 2009 Biennium, Volume 2 -- Revenue Estimates" (Revenue Estimates as adopted by the Revenue and Transportation Interim Committee) prepared by the Legislative Fiscal Division.

Current Law

General Fund Revenue Estimates

(In Millions of Dollars)

                                                                                                              60;               Actual             Estimated              Estimated              Estimated

Source of Revenue                                                                                           FY 2006               FY 2007                 FY 2008                 FY 2009

Individual Income Tax                                                                                      $768.922              $793.847    60;           $797.035               $851.111

Statewide and Vo-Tech Property Taxes                                                            177.639                189.282                 198.124       & #160;         206.794

Corporation Income Tax                                                                                    153.675                161.057     ;             161.301                 167.267

Oil and Natural Gas Production Tax                                                                    92.563                  86.241                  101.224                 101.288

Vehicle Tax                                                                                                          92.097 &# 160;              106.473                 109.028                 111.645

Insurance Tax and License Fees                                                                         58.795                  60.241                    62.129                   64.071

Video Gambling Tax                                                                                            57.277               &# 160;  59.871                   63.649                   67.646

Coal Trust Interest                                                                                               31.106             ;      29.959                   29.927                   29.945

U.S. Mineral Royalty                                                                                            29.304                ;   28.680                   31.694                   29.400

All Other Revenue                                                                                               31.867            0;      31.542                   30.877                   31.550

Cigarette Tax                                                                                                       34.573    &# 160;             34.516                   33.843                   33.308

Tobacco Settlement                                                                                               2.734            60;        2.822                     3.855                     3.996

Treasury Cash Account Interest                                                                          18.631                  27.482            0;       21.546                   21.354

Telecommunications Excise Tax                                                                         21.209                  21.255             & #160;     21.298                   21.335

Motor Vehicle Fee                                                                                               21.195            &# 160;     10.613                     9.201                     9.394

Public Institution Reimbursements                                                                      12.728                  11.451              &# 160;    12.742                   12.810

3% Accommodations Sales Tax                                                                          10.679                  11.290            & #160;      11.881                   12.504

Coal Severance Tax                                                                                              9.597              60;      9.813                   10.114                     9.688

Liquor Excise and License Tax                                                                            12.709                  13.639          & #160;        14.573                   15.551

Investment License Fee                                                                                        5.584                    60;6.002                     6.451                     6.933

Lottery Profits                                                                                                        9.110   & #160;                8.345                     8.838                     9.414

Liquor Profits                                                                                                         7.450  & #160;                 7.593                     8.047                     8.515

Nursing Facilities Fee                                                                                            5.712                60;    5.814                     5.781                     5.752

Electrical Energy Tax                                                                                             4.645               60;     4.698                     4.798                     4.797

Metalliferous Mines Tax                                                                                         7.028                   60; 9.048                     9.613                     8.867

Highway Patrol Fines                                                                                             4.316              &# 160;     4.926                     4.974                     5.023

Public Contractors Tax                                                                                          4.275                  60;  3.883                     3.417                     3.403

Wholesale Energy Tax                                                                                          3.813                  60;  3.814                     3.827                     3.811

Tobacco Products Tax                                                                                           4.360                 60;   4.401                     4.385                     4.406

Driver's License Fee                                                                                              3.828              60;      3.918                     3.952                     3.983

4% Rental Car Sales Tax                                                                                      2.755                    2.8 75                     3.000                     3.131

Railroad Car Tax                                                                                                   1.667         60;           1.631                     1.567                     1.506

Wine Tax                                                                                                               60;1.624                    1.705                     1.798                     1.892

Beer Tax                                                                                                               60; 2.908                    2.922                     2.965                     3.006

Estate Tax                                                                                                             1.7 73                    0.706                     0.310                     0.113

Telephone License Tax                                                                                         0.017                   60; 0.000                     0.000                     0.000

Total General Fund                                                                                       $1,708.166           $1,762.355     0;       $1,797.764            $1,875.209

SIGNIFICANT ASSUMPTIONS FOR GENERAL FUND REVENUE ESTIMATES

Revenue and Transportation Interim Committee

Year Assumption                                                                                                    2006       60;              2007                      2008                      2009

Individual Income Tax

FY     Income Tax Audit Collections (Millions)                                                $22.744                $25.000                 $25.000                 $25. 000

CY    Taxpayer Population (Percent Change)                                                    2.44%                   1.41%                    1.38%          60;          1.37%

     Income Indicators

CY    Wage and Salary Income (Percent Change)                                             9.50%                   4.91%                    4.00%                 60;   4.31%

CY    Net Farm Income (Percent Change)                                                       21.97%                 14.41%                  11.16%                    7.40%

CY    Interest Income (Percent Change)                                                            7.85%                   5.51%                    6.80%  60;                  9.98%

CY    Dividend Income (Percent Change)                                                        11.19%                 11.70%                  10.90%                     8.67%

CY    Rent, Royalty, and Partnership Income (Percent Change)                     10.12%                   8.74%                    9.00%                  13.61%

CY    Net Business Income (Percent Change)                                                   1.53%                   2.26%                    2.63%           60;         1.71%

CY     Capital Gains and Losses (Percent Change)                                            0.00%                   0.00%                    0.00%                  60;  0.00%

CY     Supplemental Gains (Percent Change)                                                   (1.58%)                (2.30%)                  (2.88%)                   (3.43%)

CY     Social Security Income (Percent Change)                                              11.66%                   2.53%                    2.55%               &# 160;    2.21%

CY     IRA Income (Percent Change)                                                                  7.22%                   7.77%                   0; 5.38%                    6.39%

CY     Pension Income (Percent Change)                                                           7.22%                   7.77%                    5.38%   60;                 6.39%

CY     Other Income (Percent Change)                                                            (10.79%)                (9.74%)                  (8.87%)      0;            (8.15%)

CY     Bond Interest (Percent Change)                                                              (2.71%)                 4.11%                 (14.22%)                 (11.98%)

CY     Federal Income Tax Refunds (Percent Change)                                   (38.18%)                 7.44%                   (0.68%)                   6.10%

CY     Other Additions to Income (Percent Change)                                           0.00%                   0.00%                    0.00%                   60; 0.00%

CY     IRA Deduction (Percent Change)                                                              7.27%                   7.27%                    7.27%                    7.26%

CY     Reductions to Income (Percent Change)                                                  8.08%                   4.65%                    4.88%            60;        5.13%

CY    Other Reductions to Income                                                                      7.00%                   7.00%                ;     7.00%                    7.00%

     Deductions From Income

CY     Medical Premiums (Percent Change)                                                       5.53%                   5.53%                    5.53%       60;             5.53%

CY     Medical Deductions (Percent Change)                                                     8.05%                   8.05%                    8.05%         60;           8.05%

CY     Real Estate Tax (Percent Change)                                                           4.56%                   4.56%                    4.56%   60;                 4.56%

CY     Prior Year Federal Tax Payments (Percent Change)                              14.48%                   7.28%                    1.62%                    1.16%

CY     Other Taxes (Percent Change)                                                                 6.05%                   6.05%                    0;6.05%                    6.05%

CY     Home Mortgage (Percent Change)                                                           6.57%                   6.57%                    6.57%   60;                 6.57%

CY     Contributions (Percent Change)                                                                3.82%                   2.79%                    2.47%                    2.23%

CY     Gambling Losses (Percent Change)                                                         8.34%                   8.34%                    8.34%     60;               8.34%

CY     Total Itemized Deductions (Percent Change)                                           8.17%                   6.06%                    4.41%                   60; 4.31%

     Credits

CY     Homeowner and Renter Credit (Millions)                                              $13.132                $13.790                 $14.447                 $15.104

CY     All Other Credits (Percent Change)                                                        10.11%                   4.89%                  11.23%       & #160;          10.10%

     Other Individual Income Tax Assumptions

CY     All Filers Liability (Millions)                                                                  $725.858              $747.347               $776.700    & #160;          $821.352

CY     Current Calendar Year to Fiscal Year Conversion                                  52.1%                   52.1%                    52.1%                    52.1%

CY     Previous Calendar Year to Fiscal Year Conversion                                47.9%                   47.9%                    47.9%                    47.9%

FY     Fiscal Year 2006 Adjusted Base (Millions)                                          $722.179

Property Taxes: Taxable Value for Statewide General Fund

     Mill Levies and Other Property Tax Indicators

     Taxable Value--40-Mill, 55-Mill, and 1.5-Mill Levies

FY     Property Class One (Millions)                                                                  $2.694                  $3.252                   $3.252                   $3.252

FY     Property Class Two (Millions)                                                                $13.045                $21.106                 $25.177   0;              $28.544

FY     Property Class Three (Millions)                                                           $140.988              $141.002               $141.002           & #160;   $141.002

FY     Property Class Four (Millions)                                                          $1,129.794           $1,183.821            $1,232.950            $1,284.117

FY     Property Class Five (Millions)                                                                $34.611                $35.078                 $35.078   0;              $35.078

FY     Property Class Seven (Millions)                                                              $0.953                  $1.068                   $1.119 & #160;                 $1.171

FY     Property Class Eight (Millions)                                                            $123.055              $135.613               $141.444          & #160;    $147.526

FY     Property Class Nine (Millions)                                                             $238.767              $248.320               $256.018         & #160;     $263.955

FY     Property Class Ten (Millions)                                                                  $6.794                  $6.816                   $6.829                   $6.843

FY     Property Class Twelve (Millions)                                                           $44.267                $41.577                 $39.465        0;         $37.460

FY     Property Class Thirteen (Millions)                                                       $122.846              $130.476               $138.565               $147.156

FY     Total Taxable Value (Millions)                                                          $1,836.488           $1,940.709            $2,017.122            $2,098.990

     Other Property Tax Indicators

FY     Tax Increment Finance Value (Millions)                                                $25.464                $28.830                 $27.452                 $22. 679

FY     Property Tax Abatement Value (Millions)                                                $4.137                $18.855                 $18.855                 $18.8 85

FY     Taxable Value in 1.5-Mill Vo-Tech Counties (Millions)                        $662.811              $693.488               $724.926               $757.911

     Property Tax Nonlevy Revenue

FY     40-Mill Nonlevy Revenue (Millions)                                                         $0.000                  $0.000                   $0.000      & #160;            $0.000

FY     40-Mill Adjustments (Millions)                                                                ($4.238)               ($2.825)                 ($1.413)    0;             ($0.000)

FY     55-Mill Nonlevy Revenue (Millions)                                                         $0.000                  $9.227                   $9.350      & #160;            $8.780

FY     55-Mill Adjustments (Millions)                                                                  $0.000                  $0.000                   $0.000                   $0.000

FY     1.5-Mill Nonlevy Revenue (Millions)                                                        $0.000                  $0.000                   $0.000       & #160;           $0.000

FY     1.5-Mill Adjustments (Millions)                                                                 $0.000                  $0.000                   $0 .000                   $0.000

Vehicle Tax

FY     Large Trucks Growth Rate (Percent Change)                                         14.93%                   2.40%                    2.40%                    2.40%

FY     Motor Home Growth Rate (Percent Change)                                          25.79%                   2.40%                    2.40%                   &# 160;2.40%

FY     Light Vehicle Growth Rate (Percent Change)                                         36.54%                   2.40%                    2.40%                    2.40%

FY     Boat and Snowmobile Growth Rate (Percent Change)                           21.40%                   2.40%                    2.40%                    2.40%

FY     Manufacturer's Certificate of Origin Growth Rate (Percent Change)        (1.85%)                 2.40%                    2.40%                    2.40%

Corporation License Tax

FY     U.S. Profits (Billions)                                                                        $1,639.400           $1,779.300            $1,825.100    60;        $1,850.300

FY     Refunds (Millions)                                                                                    $0.000              ($13.752)                ($14.901)                 ($7.790)

FY     Corporate Income Tax Audits (Millions)                                                  $0.000                  $4.000                   $4.000             & #160;     $4.500

Insurance Premiums Tax and License Fees

FY     General Fund Fee Revenue (Millions)                                                     $0.199                  $0.183                   $0.183          & #160;        $0.183

FY     Genetics Fee (Millions)                                                                            $0.911                  $0.911          60;         $0.637                   $0.637

FY     Premiums Tax (Millions)                                                                        $60.064                $61.701               & #160; $63.586                 $65.529

FY     Offsets (Millions)                                                                                      $1.116                  $1.168                   $1.165                   $1.165

FY     Refunds (Millions)                                                                                    $0.353                  $0.475  60;                 $0.475                   $0.475

Video Gambling Tax

FY     Video Machine Net Income (Millions)                                                  $378.828              $399.142               $424.324               $450.975

Motor Vehicle Fee--General Fund Allocations

FY     Motor Vehicle Registration Fee (Millions)                                              $12.085                  $0.000                   $0.000                    $0.000

FY     Recording of Liens Fee (Millions)                                                            $0.688                  $0.705                   $0.722   & #160;               $0.739

FY     Title Fee (Millions)                                                                                   $2.369                  $2.426   60;                $2.484                   $2.544

FY     Personal License Plate Fee (Millions)                                                     $1.418                  $1.452                   $1.487          & #160;        $1.523

FY     New License Plate Fee (Millions)                                                            $2.866                  $3.980                   $2.409   & #160;               $2.439

FY     Senior Citizen Transit Fee (Millions)                                                        $0.203                  $0.207                   $0.212       & #160;           $0.218

FY     Other Fees (Millions)                                                                               $1.567                  $1.605       60;            $1.643                   $1.683

U.S. Mineral Royalty

CY     Oil Production (Millions of Barrels)                                                            4.256                    4.256                     4.256                      4.256

CY     Coal Production (Millions of Tons)                                                          23.358                  25.236                   27.270      0;             21.604

CY     Natural Gas Production (MMCF)                                                             28.194                  30.221                   32.394  &# 160;                34.724

CY     Oil Price (Per Barrel)                                                                             $55.880                $55.086          &# 160;      $55.050                 $54.101

CY     Coal Price (Per Ton)                                                                             $10.022                $10.022           0;      $10.022                 $10.022

CY     Natural Gas Price (Per MCF)                                                                  $5.565                  $5.488                   $6.655                   $6.451

CY     Oil Royalty Rate (Percent)                                                                      11.45%                 11.45%                & #160; 11.45%                  11.45%

CY     Coal Royalty Rate (Percent)                                                                   11.98%                 11.98%                   11.98%                  11.98%

CY     Natural Gas Royalty Rate (Percent)                                                        11.93%                 11.93%                  11.93%                   11.93%

CY     Other Royalties (Millions)                                                                        $5.522                  $5.664              60;     $6.558                   $6.684

CY     Rent and Bonus (Millions)                                                                       $5.169                  $5.169               60;    $5.169                   $5.169

Telecommunications Excise Tax

FY     Taxable Gross Receipts (Millions)                                                       $565.572              $566.788               $567.927               $568.912

Tobacco Settlement

FY     Volume Change (Percent Change)                                                          (2.07%)                (2.07%)                  (2.07%)                   (2.07%)

FY     Cumulative Volume Change (Percent Change)                                     (30.18%)              (31.62%)                (33.03%)                (34.42%)

FY     CPI Change (Percent Change)                                                                  3.42%                   3.00%                   0; 3.00%                    3.00%

FY     Cumulative CPI Change (Percent Change)                                             24.25%                 27.98%                  31.82%                  35.78 %

FY     Operating Income Adjustment (Millions)                                                  $0.000                  $0.000                   $0.000             & #160;     $0.000

FY     Subsequent Manufacturers' Payment (Millions)                                  $438.635              $561.377               $740.018            $1,004.773

FY     Nonparticipating Manufacturers' Adjustment (Millions)                          ($3.005)               ($3.087)                 ($3.252)                 ($3.451)

Public Institution Reimbursements

FY     Private Payments (Millions)                                                                     $1.535                  $2.040                 60;  $2.245                   $2.272

FY     Insurance Payments (Millions)                                                                $0.284                  $0.481                   $0.483                   $0.481

FY     Medicaid Payments (Millions)                                                                  $9.531                  $9.928                 $10.809< span>                 $10.857

FY     Medicare Payments (Millions)                                                                 $1.274                  $1.594                   $1 .599                   $1.594

FY     Debt Service MT Developmental Center (Millions)                                ($0.951)               ($1.015)                 ($1.017)                 ($1.017)

FY     Debt Service MT State Hospital (Millions)                                              ($1.775)               ($1.909)                 ($1.908)                 ($1.910)

FY     Adjustments (Millions)                                                                             $0.000                  $0.000         60;          $0.200                   $0.200

Estate Tax

FY     Annual Change in Tax (Percent Change)                                              (57.69%)              (60.17%)                (56.07%)                (63.44%)

Oil Production Tax

CY     Oil Production (Million Barrels)                                                               34.827                  38.159                   36.425&# 160;                  32.354

CY     Montana Oil Price (Weighted Price/Barrel)                                           $53.017                $53.148                 $51.979                 $51.452

CY     Effective Tax Rate (Percent)                                                                     7.67%                   8.00%                60;    8.83%                  10.03%

Natural Gas Production Tax

CY     Natural Gas Production (MMCF)                                                          107.258                106.687                 104.476          ;          99.981

CY     Montana Natural Gas Price (Weighted Price/MCF)                                $5.29                    $6.85                     $7.26                     $6.96

CY     Effective Tax Rate (Percent)                                                                     7.70%                   7.90%                60;    8.10%                    8.47%

Treasury Cash Account Interest

FY     TCA Average Balance w/TRANS (Millions)                                         $542.420              $588.605               $468.605               $468.605

FY     TCA Average Yield (Percent)                                                                    3.61%                   4.67%                 60;   4.60%                    4.56%

FY     TRANS Issue Size (Millions)                                                                   $0.000                  $0.000                   60;$0.000                   $0.000

Liquor Excise and License Tax

FY     Gross Sales (Millions)                                                                           $66.600                $71.439            & #160;    $76.351                 $81.492

FY     Tribal Distributions (Millions)                                                                  ($0.242)               ($0.256)                 ($0.277)  0;               ($0.299)

Coal Severance Tax

CY     Severance Tax Coal Production (Million Tons)                                       35.173                  37.018                   38.117                   34.706

CY     Montana Contract Sales Price (Weighted CSP/Ton)                              $6.849                  $6.747                   $6.713                   $6.585

Cigarette Tax

FY     Cigarette Packs (Millions)                                                                        48.336                  47.580              60;     46.835                   46.102

FY     Effective Tax Rate Per Pack (Dollars)                                                     $1.70                    $1.70                     $1.70        ;              $1.70

FY     Tribal Distribution (Millions)                                                                    ($3.522)               ($3.528)                 ($3.766)                 ($3.719)

Lottery Profits 

FY     Total Lottery Sales (Millions)                                                                 $39.918                $37.231                 $38.348  0;               $39.489

FY     Lottery Interest Earnings (Millions)                                                          $0.200                  $0.199                   $0.208     & #160;             $0.219

FY     Other Revenue (Millions)                                                                         $0.011                  $0.011             60;      $0.011                   $0.011

FY     Lottery Operating Budget (Millions)                                                         $7.962                  $7.593                   $7.580      & #160;            $7.497

FY     Lottery Prizes and Commissions (Millions)                                            $23.056                $21.504                 $22.149                 $22.808

Nursing Facilities Fee

FY     Bed Days (Millions)                                                                                   1.980                    1.983  ;                    1.971                     1.960

FY     Intermediate Care Revenue (Millions)                                                   $14.954                $15.044                 $15.135                0; $15.226

Liquor Profits

FY     Gross Liquor Sales (Millions)                                                                $83.916                $90.013                 $96.202   0;            $102.680

FY     Cost of Goods Sold (Millions)                                                                $47.324                $51.247                 $54.960   0;              $58.842

FY     Liquor Discounts and Commissions (Millions)                                       $10.148                $10.885                 $11.634                 $12.417

FY     Liquor Operating Costs (Millions)                                                            $1.676                  $1.732                   $1.729   & #160;               $1.736

FY     Other Income (Millions)                                                                           $0.019                  $0.019           60;        $0.019                   $0.019

Investment License Fee

FY     License Registration (Percent Change)                                                     7.55%                   7.48%                    7.48%         60;           7.48%

FY     Portfolio Growth (Percent Change)                                                         13.27%                 10.19%                  10.19%                   10.19%

FY     Expense Growth (Percent Change)                                                         (5.22%)               29.13%                    0.77%        & #160;          (0.34%)

Electrical Energy Tax

FY     Kilowatt Hours Produced (Millions)                                                  23,516.213           23,490.774            23,989.247            23,981.800

Highway Patrol Fines

FY     Highway Patrol Fines (Percent Change)                                                  (0.55%)               14.13%                    0.98%               & #160;    0.98%

Metalliferous Mines Tax

CY     Copper Production (Million lb)                                                                 86.012                  94.667                   94.754                   94.887

CY     Silver Production (Million oz)                                                                    2.175                    3.654                 0;    3.686                     3.022

CY     Gold Production (Million oz)                                                                      0.130                    0.274               0;      0.213                     0.015

CY     Lead Production (Million lb)                                                                       1.196                  17.728                60;   18.764                     0.000

CY     Zinc Production (Million lb)                                                                        3.084                  48.144               60;    54.614                     0.000

CY     Molybdenum Production (Million lb)                                                                                                            0;          Not disclosed, confidential information

CY     Palladium Production (Million oz)                                                                                                            0;              Not disclosed, confidential information

CY     Platinum Production (Million oz)                                                                                                            0;                Not disclosed, confidential information

CY     Nickel Production (Million lb)                                                                     1.738                    1.156                0;     1.327                     1.452

CY     Rhodium Production (Million oz)                                                                                                            0;               Not disclosed, confidential information

CY     Sapphire Production (Million oz)                                                               0.000                    0.000                     0.000                     0.000

CY     Copper Sulfide Production (Million lb)                                                       0.000                    0.000                     0.000                     0.000

CY     Copper Price (Per lb)                                                                              $3.000                  $2.788        &# 160;          $2.594                   $2.622

CY     Silver Price (Per oz)                                                                              $11.500                $11.951                  $12.101                 $12.233

CY     Gold Price (Per oz)                                                                             $590.000              $623.740             60;  $656.496               $689.645

CY     Lead Price (Per lb)                                                                                  $0.450                  $0.450    &# 160;              $0.450                   $0.450

CY     Zinc Price (Per lb)                                                                                   $0.660                  $0.660   &# 160;               $0.660                   $0.660

CY     Molybdenum Price (Per lb)                                                                                                            0;                        Not disclosed, confidential information

CY     Palladium Price (Per oz)                                                                                                            0;                           Not disclosed, confidential information

CY     Platinum Price (Per oz)                                                                                                                                          Not disclosed, confidential information

CY     Nickel Price (Per lb)                                                                                $5.960                  $5.960      &# 160;            $5.960                   $5.960

CY     Rhodium Price (Per oz)                                                                                                            0;                             Not disclosed, confidential information

CY     Sapphire Price (Per oz)                                                                           $0.000                  $0.000           &# 160;       $0.000                   $0.000

CY     Copper Sulfide Price (Per lb)                                                                  $0.000                  $0.000                   $ 0.000                   $0.000

FY     Effective Tax Rate (Percent)                                                                     1.70%                   1.70%                60;    1.70%                    1.70%

Public Contractors Tax

FY     Tax Before Credits (Millions)                                                                   $6.158                  $6.171                   60;$5.762                   $5.807

FY     Credits and Refunds (Millions)                                                                $1.883                  $2.288                   $2.345                   $2.404

Wholesale Energy Tax

FY     Kilowatt Hours (Millions)                                                                   24,870.822           26,225.181            26,314.340        &# 160;   26,202.955

FY     Credits for Taxes Paid (Millions)                                                              $0.000                  $0.000                   $0.000 & #160;                 $0.000

Beer Tax

FY     Beer Barrels (Millions)                                                                               0.925                    0.929      ;                0.942                     0.956

FY     Tribal Distribution (Millions)                                                                    ($0.059)               ($0.059)                 ($0.059)                 ($0.061)

FY     Effective Tax Rate (Percent)                                                                     4.18%                   4.18%                60;    4.18%                    4.18%

Driver's License Fees

FY     Driver's License Fees (Millions)                                                               $3.142                  $3.174                   $3.204& #160;                  $3.232

FY     Duplicate License Fees (Millions)                                                            $0.316                  $0.320                   $0.323   & #160;               $0.325

FY     Motorcycle Endorsement Fees (Millions)                                                $0.012                  $0.012                   $0.013               & #160;   $0.013

FY     Commercial Vehicle Endorsement (Millions)                                           $0.353                  $0.353                   $0.353                   $ 0.353

Tobacco Tax

FY     Value of Tobacco Products (Millions)                                                      $5.697                  $5.850                   $5.974         & #160;         $6.087

FY     Snuff Ounces (Millions)                                                                             7.982                    7.982        ;              7.982                     7.982

FY     Tribal Distribution (Millions)                                                                    ($0.399)               ($0.334)                 ($0.424)                 ($0.436)

Railroad Car Tax

CY     Total MT Market Value of Fleets (Millions)                                            $89.056                $89.064                 $89.064                 $89.064

CY     Taxable Value Rate (Percent)                                                                   3.74%                   3.55%                  60;  3.37%                    3.20%

CY     95% of Industrial and Commercial Mill Levy                                         509.510                515.710                 521.990                 528.340

Wine Tax

FY     Wine Liters (Millions)                                                                                 8.880                    9.328    ;                  9.838                   10.349

FY     Tribal Distribution (Millions)                                                                    ($0.031)               ($0.033)                 ($0.035)                 ($0.037)

SELECTED NONGENERAL FUND REVENUE

     The projections for selected nongeneral fund revenue for fiscal year 2007 and the 2008-2009 biennium are based on the assumption of a continuation of Montana law as it existed on January 1, 2007. 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 "Legislative Budget Analysis, 2009 Biennium, Volume 2 -- Revenue Estimates" (Revenue Estimates as adopted by the Revenue and Transportation Interim Committee) prepared by the Legislative Fiscal Division.

Current Law

Selected Nongeneral Fund Revenue Estimates

(In Millions of Dollars)

Source of Revenue                                                                                               Actual            0; Estimated              Estimated              Estimated

                                                                                                              60;            FY 2006               FY 2007                 FY 2008                 FY 2009

Gasoline Tax                                                                                                   $131.465               $132.000               $132.538               $133.077

Diesel Tax                                                                                                            67.780                  71.324                   75.032                   78.933

Common School Interest and Income                                                                 82.606                  75.414                   77.7 94                   77.049

GVW and Other Fees                                                                                          28.916                 & #160;28.693                   28.497                   28.982

Federal Forest Receipts                                                                                      12.800                  13.006                   13.148                   13.282

6-Mill Property Tax                                                                                              11.952             &# 160;    12.505                   12.971                   13.359

Resource Indemnity Trust Interest                                                                         5.916                    5.645                      5.646                     5.658

Treasure State Endowment Trust Interest                                                             8.039                    8.434                     8.950                      9.489

Gasoline Storage Tank Tax                                                                                   3.727                    3.742  60;                   3.757                     3.773

Resource Indemnity Trust and Ground Water Assessment Tax                            1.456                    1.307                     1.335                     1.290

Diesel Storage Tank Tax                                                                                       2.815                    2.961                     3.115                     3.277

Parks Trust Interest Earnings                                                                                0.972                    0.983                      1.009                     1.036

Capital Land Grant Interest and Income                                                                1.590                    1.072                      1.157                     1.217

Tobacco Trust Interest Earnings                                                                            3.388                    3.939         ;             4.567                     5.413

Regional Water Trust Interest Earnings                                                                 1.527                    1.823                    ;  2.082                     2.348

Economic Development Trust Interest Earnings                                                   1.194                    1.455                     1.716          ;            1.982

Pine Hills Interest and Income                                                                               0.397                    0.387                      0.389                     0.391

Cultural Trust Interest Earnings                                                                             0.447                    0.483        ;              0.496                     0.510

Deaf and Blind Trust Interest and Income                                                             0.291                    0.284                     0.286< span>                     0.287

Total Nongeneral Fund                                                                                    $367.275              $365.457     &# 160;         $374.485               $381.353

SELECTED ASSUMPTIONS FOR NONGENERAL FUND REVENUE ESTIMATES

Revenue and Transportation Interim Committee

Year Assumption                                                                                                    2006       60;              2007                      2008                      2009

Gasoline Tax

FY     Taxable Gallons of Gasoline (Millions)                                                  501.029                503.070                 505.119                 0;507.177

FY     Taxable Gallons of Gasoline -- Storage Tank Cleanup (Millions)          496.919                498.943                 500.976                 503.016

FY     Refunds (Millions)                                                                                  ($2.460)               ($2.470)                  ($2.481)                 ($2.491)

FY     Tribal Distribution (Millions)                                                                    ($3.785)               ($3.800)                 ($3.816)                 ($3.831)

FY     Alcohol Incentive (Millions)                                                                      $0.000                  $0.000                60;   $0.000                   $0.000

Diesel Tax

FY     Taxable Gallons of Diesel (Millions)                                                      261.906                275.602                 289.930             0;    305.003

FY     Taxable Gallons of Diesel -- Storage Tank Cleanup (Millions)              375.269                394.778                 415.302                 436.893

FY     Refunds (Millions)                                                                                  ($4.172)               ($4.390)                  ($4.619)                 ($4.859)

GVW Fees

FY     GVW Fees (Millions)                                                                               $8.555                  $8.686       60;            $8.820                   $8.955

FY     Form 3 GVW Fees (Millions)                                                                   $1.059                  $1.059                   60;$1.059                   $1.059

FY     Trip Permit Fees (Millions)                                                                      $0.542                  $0.542                60;   $0.542                   $0.542

FY     County GVW Fees (Millions)                                                                 $10.243                $10.400                 $10.560  0;               $10.722

FY     Overweight Trip Permit Fees (Millions)                                                   $2.646                  $2.751                   $2.861            & #160;      $2.975

FY     Special Permit Fees (Millions)                                                                 $1.104                  $1.161                   $1 .230                   $1.303

FY     Temporary Fuel Permits (Millions)                                                           $0.118                  $0.111                   $0.111    & #160;              $0.112

FY     Other Fees (Millions)                                                                               $3.314                  $3.314       60;            $3.314                   $3.314

6-Mill Levy Property Tax Indicators (See General Fund Property

Tax Assumptions for Other Detail)

FY     Taxable Value (Millions)                                                                   $1,861.952           $1,969.539            $2,044.574        &# 160;   $2,121.669

FY     Nonlevy Revenue (Millions)                                                                     $0.000                  $0.688                 60;  $0.704                   $0.629

FY     6-Mill Adjustments (Millions)                                                                    $0.000                  $0.000                  60; $0.000                   $0.000

- END -

 


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