The Financial Modernization & Risk Analysis subcommittee of the Legislative Finance Committee (MARA) met for the first time Jan. 16, 2020, during Legislative Week in Helena.

The subcommittee is authorized by HB 715, Section 5, to study long-term future budget and revenue needs focusing on changing economics and demographics of the state.

During its first meeting, members were briefed on highlights from Legislative Week reports and heard presentations regarding an interim study on state and local tax policy, state and regional tax structure, labor market trends, demographics and property taxes.

The subcommittee is comprised of legislative members including Rep. Nancy Ballance, Rep. Mary Caferro, Rep. Jim Hamilton, Rep. Llew Jones, Rep. Bill Mercer and Rep. Marilyn Ryan. The subcommittee also has four public members including Mark Haggerty of Headwaters Institute, Jason Smith of the Governor’s Office of Indian Affairs, businesswoman Sarah Swanson and retired MSU economics professor Dr. Myles Watts.

Links to video of the meeting as well as associated documents can be found on the MARA webpage:

The MARA subcommittee next meets in March 2020, exact date to be determined.

The Legislative News.