RTIC Meets Nov. 19 to Adopt Revenue Estimate - news.mt.gov

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RTIC Meets Nov. 19 to Adopt Revenue Estimate

Friday, November 9, 2018/Categories: Legislative Branch/Tags:

The Revenue and Transportation Interim Committee meets November 19 in room 137 of the Capitol building beginning at 10 a.m. The main objective of the meeting is for the committee to adopt a revenue estimate for introduction to the 2019 Legislature. The meeting agenda is available on the committee website.

The revenue estimate is an estimate of general fund revenue and selected nongeneral fund revenue for the next three fiscal years: 2019, 2020, and 2021. Revenues are estimated by revenue source, and significant assumptions are also included in the estimate. The revenue estimate is used for ensuring the budget is balanced, which is a constitutional requirement.

The Legislative Fiscal Division and the Governor's Office of Budget and Program Planning will present independent revenue estimates to the committee. After receiving the revenue estimate information and taking public comment, the committee will discuss which numbers to use in the revenue estimate and direct staff to draft the adopted estimate as House Joint Resolution 2.

Additional agenda items include an administrative rule review and a required report from the Department of Revenue on tax rates for the upcoming property reappraisal cycle that will result in taxable value neutrality for each property class.

The meeting will be live streamed at http://leg.mt.gov and will be broadcast on Montana Public Affairs Network (MPAN). Check your local channel listings to find MPAN 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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