Montana HB451 revises tax increment financing laws to exclude certain levies from tax increment calculations.

Montana HB451 modifies tax increment financing districts to exclude specific levies when calculating tax increments. For targeted economic development districts and urban renewal areas created after April 6, 2017, the combined mill rates used to calculate the tax increment cannot include university system mills, half of elementary, high school, and state equalization mills, new mill levies approved by voters, and mills levied to pay debt service on voted general obligation bonds.

Montana HB451 revises tax increment financing laws to exclude certain levies from tax increment calculations.

Montana HB451 modifies tax increment financing districts to exclude specific levies when calculating tax increments. For targeted economic development districts and urban renewal areas created after April 6, 2017, the combined mill rates used to calculate the tax increment cannot include university system mills, half of elementary, high school, and state equalization mills, new mill levies approved by voters, and mills levied to pay debt service on voted general obligation bonds.