RTIC to Continue Studies, Meet Jointly With Finance and Local Government Committees - news.mt.gov

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RTIC to Continue Studies, Meet Jointly With Finance and Local Government Committees

Friday, March 2, 2018/Categories: Legislative Branch/Tags: Property Appraisal , Revenue & Transportation Interim Committee , natural resources , TVMT , Local Government Interim Committee , Montana Tax Appeal Board , Administrative Rules of Montana

The Revenue and Transportation Interim Committee holds its next meeting on March 13-14 in rooms 137 and 317 of the Capitol in Helena, beginning at 8 a.m. each day. The agenda and materials for the meeting are available on the committee’s website.

The morning of March 13 will begin in room 137 and be devoted to agency presentations from the Department of Transportation and the Montana Tax Appeal Board, a history of agricultural property classification and valuation for the HJ 22 study, and an overview and panel discussion about the distribution of oil and natural gas production tax revenue.

After lunch, the committee will move to room 317 and meet jointly with the Legislative Finance Committee for agenda items related to the changing economy and impacts to the long-term viability of Montana’s tax structure. Topics include general fund trends relative to gross state product, revenue trends in all 50 states, an industry comparison of taxes collected on $1 million, economic sector trends, a tax gap analysis presentation by the Department of Revenue, and discussion of the corporate income tax.

The meeting will continue Wednesday, March 14, in room 317 with a joint meeting of RTIC and the Local Government Interim Committee. The two committees will receive a presentation from the Legislative Audit Division on the recent performance audit of districts that use tax increment financing. RTIC is studying tax increment financing and the two committees will discuss next steps for the HJ 18 study after hearing the audit results.

Afternoon agenda items on March 14 include a medical marijuana administration and tax collections update, a year-to-date revenue collections report for the committee’s revenue estimating and monitoring duties, an agency report from the Department of Revenue, a discussion of taxes paid by public utility customers for the SJ 23 study of the taxation of centrally assessed and industrial property, and an administrative rule review. The afternoon meeting will be held in room 137.

The meeting will be live streamed at http://leg.mt.gov and will be broadcast on Television Montana (TVMT). 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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