HB892

Revises insurance premium tax allocation to fund property tax relief in Montana.

This bill amends the allocation of insurance premium tax revenue in Montana. It specifies that 33% of the collected insurance premium tax will be deposited into a special revenue account. Additionally, it mandates the transfer of $10 million annually from this tax revenue to the state property tax assistance account to provide relief to property taxpayers. The bill also outlines various fees for different types of insurance licenses and certifications, including original, renewal, and reinstatement fees.