Montana State Legislature

Financial Modernization & Risk Analysis Study (MARA) 2023 BIennium

Upcoming meetings:

  • March 7 & 8, 2022
  • May 31, 2022
  • Aug. 24, 2022


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Nov. 29-30, 2021


Montana Home Construction on the High Divide - Headwaters Economics

Governor's Veto - HB 188


Aug. 31, 2021


Technology and the future of work - Lee Rainie, Pew Research Center

IHS Markit - Montana Outlook

MARA Timeline


June 3, 2021


MARA 2021 Biennium materials


Cost of Living (updated 11/28/2021)

Montana Demographics  - August 2021

Conservation Easements - August 2021


Demographics Tool - January 2020

Aug. 31, 2021
Video | Minutes


June 3, 2021
Video | Minutes


Submit public comment

Written public comment will be posted here.

Legislative Finance Committee members:

  • Rep. Llew Jones, Chair
  • Sen. Janet Ellis, Vice Chair
  • Rep. Mary Caferro
  • Rep. Bill Mercer
  • Sen. Dan Salomon
  • Rep. Sharon Stewart Peregoy


Non-legislative members:

  • Mark Haggerty, senior fellow, Energy & Environmental Policy Team, Center for American Progress
  • Mike Hope, owner, Rockin R Bar
  • Dwaine Iverson, CPA
  • Heather O'Loughlin, co-director research & development, Montana Budget and Policy Center


The Financial Modernization and Risk Analysis (MARA) study is authorized by HB 330, section 3:

(1) A committee of members of the Legislative Finance Committee and appointed members shall study the long-term future budget and revenue needs with changing economics and demographics.

 (2) The study must be conducted by a bipartisan committee consisting of the following:

(a) six members of the legislative finance committee, with three members appointed by the chair and three members appointed by the vice chair; and

(b) four members who are not officials or employees in the executive or legislative branches with two appointed by the chair and two appointed by the vice chair of the committee.

(3) The Legislative Fiscal Division shall provide administrative staff support and fiscal analysis. The Legislative Services Division may provide research and legal support at the request of the committee.

(4) Subject to direction provided by the committee, the study may include but is not limited to:

(a) identifying structural revenue challenges with economic, demographic, and geographical variability considerations;

(b) exploring revenue sufficiency and probable long-term expenditures by state and local government for services, including but not limited to:

(i) health care;

(ii) human services;

(iii) elementary and secondary education;

(iv) higher education;

(v) pensions;

(vi) public safety and corrections;

(vii) infrastructure and public works; and

(viii) programs historically funded by revenue generated from natural resource taxes.

(c) creating data sets and models for future analysis by the legislature; and

(d) proposing potential solutions and possible legislation for consideration by the 2023 legislature.

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