2017 Montana Legislature
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HOUSE BILL NO. 30
INTRODUCED BY J. ESSMANN
BY REQUEST OF THE REVENUE AND TRANSPORTATION INTERIM COMMITTEE
AN ACT AMENDING TAX INCREMENT PROVISIONS RELATED TO CERTAIN LOCAL MILL LEVIES; EXEMPTING LEVIES VOTED ON AFTER THE ADOPTION OF TAX INCREMENT FINANCING; AMENDING SECTION 7-15-4286, MCA; AND PROVIDING AN IMMEDIATE EFFECTIVE DATE AND AN APPLICABILITY DATE.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MONTANA:
Section 1. Section 7-15-4286, MCA, is amended to read:
"7-15-4286. Procedure to determine and disburse tax increment. (1) Mill rates of taxing bodies for taxes levied after the effective date of the tax increment provision must be calculated on the basis of the sum of the taxable value, as shown by the last equalized assessment roll, of all taxable property located outside the urban renewal area or targeted economic development district and the base taxable value of all taxable property located within the area or district. The mill rate determined must be levied against the sum of the actual taxable value of all taxable property located within as well as outside the area or district.
(2) (a) The Except as provided in subsection (2)(b), the tax increment, if any, received in each year from the levy of the combined mill rates of all the affected taxing bodies against the incremental taxable value within the area or district, except for the university system mills levied and assessed against property, must be paid into a special fund held by the treasurer of the local government and used as provided in 7-15-4282 through 7-15-4294.
(b) The combined mill rates used to calculate the tax increment may not include mill rates for:
(i) the university system mills levied pursuant to 15-10-108 and 20-25-439; and
(ii) a new mill levy approved by voters as provided in 15-10-425 after the adoption of a tax increment provision.
(b)(c) The balance of the taxes collected in each year must be paid to each of the taxing bodies as otherwise provided by law."
Section 2. Effective date. [This act] is effective on passage and approval.
Section 3. Applicability. [This act] applies to tax increment provisions adopted by urban renewal districts and targeted economic development districts established under Title 7, chapter 15, part 42, on or after [the effective date of this act] and voted levies approved after [the effective date of this act].
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Version of HB 30 (HB0030.ENR)
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