Montana SB102 revises the calculation of state education levies to limit growth in revenue.

Montana SB102 amends the procedure for calculating mill levies to limit the growth in revenue from education levies. The bill specifies that the state school equalization mills and the vocational-technical education levy may not generate more than 3% more than the revenue collected in the prior year. It also restricts the authority to carry forward mills for certain state mills. The bill defines newly taxable property and outlines exceptions to the levy calculation. The mill calculation must be established in tenths of mills, rounding up if necessary.

Montana SB102 revises the calculation of state education levies to limit growth in revenue.

Montana SB102 amends the procedure for calculating mill levies to limit the growth in revenue from education levies. The bill specifies that the state school equalization mills and the vocational-technical education levy may not generate more than 3% more than the revenue collected in the prior year. It also restricts the authority to carry forward mills for certain state mills. The bill defines newly taxable property and outlines exceptions to the levy calculation. The mill calculation must be established in tenths of mills, rounding up if necessary.