RTIC to Hear Presentation on Projected General Fund Budget Deficit, Begin Interim Studies - news.mt.gov

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RTIC to Hear Presentation on Projected General Fund Budget Deficit, Begin Interim Studies

Wednesday, September 6, 2017/Categories: Legislative Branch/Tags: Revenue & Transportation Interim Committee , TVMT , medical marijuana , Montana Tax Appeal Board , TIF

RTIC to Hear Presentation on Projected General Fund Budget Deficit, Begin Interim Studies

The Revenue and Transportation Interim Committee meets next on September 13 and 14 in Room 172 of the Capitol building beginning at 2 pm on September 13 and at 8 am on September 14.

The committee has a full agenda for the meeting that includes agenda items devoted to its three interim studies, agency monitoring, and revenue estimating and monitoring.

Wednesday’s agenda includes an update on the implementation of changes to medical marijuana laws, which included a new tax on providers of medical marijuana. Also scheduled for Wednesday are an agency update from the Montana Tax Appeal Board, an introduction to tax increment financing and a summary of Montana TIF reports for the study of tax increment financing, an administrative rule review, and final review by the committee of the work plan adopted at the June meeting.

The discussion of the projected general fund budget deficit begins Thursday morning. The budget director notified the committee on September 5 of his intent to certify a projected general fund budget deficit to the Governor. The committee has 20 days from the date of notice to provide recommendations to the budget director.  An overview of RTIC’s role is available on the committee website.

This agenda item will include presentations from the Office of Budget and Program Planning and from the Legislative Fiscal Division and time for public comment and committee discussion.  Public comment should focus on the revenue projections. Comments about possible budget reductions should be directed to the Legislative Finance Committee at its next meeting.

Other agenda items scheduled for Thursday include agency updates from the Department of Revenue and the Department of Transportation, an overview of the valuation of centrally assessed and industrial property and a panel discussion with taxpayers and the Department of Revenue for the study of centrally assessed and industrial property, a panel discussion on the impact on local governments of placing property into federal trust, and an overview of agricultural property classification and valuation for the agricultural property study.

The meeting will be live streamed at http://leg.mt.gov and will be broadcast on Television Montana (TVMT).  Please check your local channel listings to find TVMT in your area. For more information about the meeting , including a full agenda, visit the committee’s website or contact Megan Moore, committee staff.

Committee Website: http://leg.mt.gov/rtic

Committee Staff: memoore@mt.gov or 406-444-4496

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