RTIC to Review Agricultural Study Legislation, Conclude Studies - news.mt.gov

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RTIC to Review Agricultural Study Legislation, Conclude Studies

Friday, August 31, 2018/Categories: Legislative Branch, Montana.gov/Tags:

The Revenue and Transportation Interim Committee will wrap up its interim with a meeting on September 13 in the Capitol in Helena. The meeting begins at 9:00 a.m. in room 137. The agenda is available on the committee website.

The committee will take public comment on four bill drafts for its study of agricultural property valuation. More information about the bills is available in an overview document. The four drafts are:

  • LCag01: Provides for provisional agricultural classification for five years for fruit trees, vines, and Christmas trees;
  • LCag02: Provides the maximum $50 water cost deduction for all irrigated property;
  • LCag03: Requires agricultural use for all property classified as agricultural (drafted for the 2015-2016 interim); and
  • LCag00: Simplifies 15-7-202, MCA.

Public comment will also be taken on the final report for the study of agricultural property taxation and on the final report for the study of tax increment financing and the study of centrally assessed property taxation. The committee considered legislation for the other two studies at the July meeting, but did not advance any legislation.

As part of the committee’s revenue estimating and monitoring duties, the committee will receive a FY 2018 general fund revenue update from the Legislative Fiscal Division. The committee will also discuss agenda items for its November 19 meeting during which the committee will adopt a revenue estimate for introduction to the 2019 Legislature.

The September meeting will also include the presentation of reports requested at the March joint meeting with the Legislative Finance Committee on taxes and the changing economy.  Those reports include a state comparison of the share of total revenue that comes from the individual income tax, the property tax, and the general sales tax; an estimate of how much a sales tax could raise from certain industry sectors; and a shift-share analysis of general fund revenues.

Other agenda items include agency updates from the Departments of Revenue and Transportation and the Montana Tax Appeal Board, an administrative rule review, an update on the Legislative Finance Committee’s study of the budget stabilization account, and an individual income tax credit analysis.

The meeting will be live streamed at https://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. Written public comment regarding the bill drafts to be considered or any matter under the committee’s jurisdiction may be directed to committee staff.

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

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


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