RTIC Continues Interim Studies and Considers State Tax Structure Study
The Revenue and Transportation Interim Committee meets next on December 5 in Room 137 of the Capitol in Helena beginning at 8 a.m.
The agenda includes items devoted to the three interim studies, agency monitoring, and revenue estimating and monitoring as well as discussions about calculation of the statewide property tax levies and a possible state tax structure study.
Agenda items for the three interim studies include:
- an overview of eligibility for agricultural classification in selected states and a panel of small parcel agricultural property owners for the House Joint Resolution 22 agricultural property study;
- an update of 2011 study materials on the classification, assessment, and taxation of centrally assessed property and an overview of selected states’ methods for valuing centrally assessed property for the Senate Joint Resolution 23 study of centrally assessed and industrial property; and
- an analysis of taxable values of districts that use tax increment financing and an overview of bonds guaranteed with tax increment for the House Joint Resolution 18 tax increment financing study.
The committee will also receive updates from the three agencies for which it has agency monitoring duties. The Department of Revenue report will cover major court cases involving the department, implementation of the bill providing for market sourcing of sales for corporate income tax purposes (House Bill 511), and office closures. The Department of Transportation presentation will include an update on roundabouts and the implementation of the fuel tax increase (House Bill 473) and a report on the alternative project delivery contracting process required by House Bill 92. The Montana Tax Appeal Board will update the committee on its caseload.
Revenue estimating and monitoring agenda items will cover special session budget changes, fiscal year-to-date revenue, and personal income estimated in House Joint Resolution 2 relative to actual personal income.
The recent special legislative session raised questions about sufficiency of state revenue and created some interest in examining the state’s tax structure. The committee will discuss options for pursuing such a study.
The meeting will also include an agenda item focused on the calculation of the statewide property tax levies, including an overview of statutory authority, changes to the calculation method, and a comparison of past and current calculation methods.
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: firstname.lastname@example.org or 406-444-4496