_____________ bill NO. _____________

INTRODUCED BY _________________________________________________

By Request of the ****

A BILL FOR AN ACT ENTITLED: "AN ACT REVISING PROPERTY TAXATION OF TRANSMISSION LINES; providing FOR A PARTIAL EXEMPTION FOR THE ADDITIONAL VALUE OF AN ADVANCED CONDUCTOR TRANSMISSION LINE; LIMITING THE TIME PERIOD OF THE EXEMPTION; PROVIDING FOR APPLICATION TO THE DEPARTMENT OF REVENUE FOR THE EXEMPTION; PROVIDING A DEFINITION; PROVIDING RULEMAKING AUTHORITY; and PROVIDING a delayed EFFECTIVE DATE and AN APPLICABILITY DATE."

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MONTANA:

NEW SECTION. Section 1. Partial exemption -- advanced conductor power line -- rulemaking -- definition. (1) The value associated with replacing an overhead transmission line with an advanced conductor transmission line may not exceed the value of the overhead transmission line that was replaced for a period of 10 years after installation. The exemption applies to property classified in Title 15, chapter 6, part 1, including property classified in 15-6-135, 15-6-137, 15-6-141, and 15-6-157.

(2)        An owner or operator shall apply for an exemption under this section by March 1 of the first tax year for which the exemption is sought on a form provided by the department, setting forth the nature of the installation, the date on which the installation was completed, and any other information that the department may require.

(3)        The department may adopt rules to implement the provisions of this section.

(4)        As used in this section, "advanced conductor" means an overhead electricity conductor installed in a transmission or distribution project that has a direct current electrical resistance at least 10% lower than existing conductors of a similar diameter on the system based on established direct current resistance at standard pressure and a temperature of 20 degrees C.

NEW SECTION. Section 2. Codification instruction. [Section 1] is intended to be codified as an integral part of Title 15, chapter 6, part 2, and the provisions of Title 15, chapter 6, part 2, apply to [section 1].

NEW SECTION. Section 3. Effective date. [This act] is effective January 1, 2024.

NEW SECTION. Section 4. Applicability. [This act] applies to property tax years beginning after December 31, 2023.