The HJ 35 Tax Study Committee meeting is July 20 beginning at 9:30 a.m. The committee will continue working on property tax, individual income tax, and corporate income tax topics. Five bill drafts are up for consideration:
- HJ35-01 - Full inflation for mill levy limit
- HJ35-02 - Property tax circuit breaker
- HJ35-03 - Increase corporate minimum tax
- HJ35-04 - Calculation of capital gains tax credit
- HJ35-05 - Direct income tax collections above inflation to public infrastructure.
The committee will also receive presentations on sales taxes in the states and in Montana and information comparing Montana's natural resource fiscal policies to peer states and best practices.
The Revenue Interim Committee meeting begins July 21 at 9 a.m. In addition to agency updates from the Department of Revenue and the Montana Tax Appeal Board, the committee will receive required reports on the Montana Economic Development Industry Advancement Act, property tax abatements for gray water systems, the review of exempt property, the biodiesel blending and storage tax credit, and countries that may be considered tax havens.
An agenda item will be devoted to review changes to the tax deed process for properties with a dwelling. County treasurers will offer the committee an update on implementation of the revised process.
The committee will receive information on the final two tax credits required to be reviewed this interim: the elderly homeowner and renter credit and the contractor's gross receipts tax credit. The committee will also make decisions about the alternative energy systems credit and whether to review the foreign states tax credit again in the future. Staff will present two bill drafts to implement recommendations discussed at previous meetings:
- TC01 - Revise credit for energy-conserving expenditures
- TC02 - Repeal new or expanded industry tax credit.
At the April meeting, the committee authorized the drafting of staff-suggested clarification legislation. Those bill drafts will be presented at the meeting:
- CC01 - Tax credit review
- CC02 - Biodiesel credit report to RIC
- CC03 - ABLE account owner
- CC04 - Deposit of lodging sales tax revenue
- CC05 - Repeal obsolete credit for interest differential in loans from utilities
- CC06 - Repeal expired exemption for electrical generation, transmission facilities
The HJ 35 Tax Study Committee and Revenue Interim Committee will take public comment on all bill drafts under consideration. Comments may be made in-person via Zoom or may be made in writing to email@example.com. Written comments provided by 5 pm on July 17 will be provided to the committee in advance of the meeting.
Members of the public who wish to participate may join the meeting. If you want to participate, please email firstname.lastname@example.org by 5 p.m. the day before the meeting with your name and a request and you will be sent instructions for joining and participating in the meeting.
A time will be provided for oral public comment on the agenda and, at that time, members of the public who have joined may “raise their hand” and participate after being recognized by the presiding officer or the meeting host. Comments will be taken in order. Written public comment via email may be submitted in advance of the meeting to email@example.com and will be provided to committee members.
Committee staff: Megan Moore, firstname.lastname@example.org or 406-444-4496
Committee website: https://www.leg.mt.gov/committees/interim/2019rvic/
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