Montana HB329: Make the Montana ammunition act permanent

What the bill says

An act encouraging the formation of ammunition component manufacturing businesses in montana; providing exemptions from property taxes, individual income taxes, corporate income taxes, and other business-related taxes to a manufacturer of ammunition components; providing exemptions from individual income taxes and corporate income taxes to an investor or lender that provides loans to a manufacturer of ammunition components; amending sections 15-6-219, 1530-2120, and 15-31-113, mca; and providing an immediate effective date, a retroactive applicability date, and a termination date.

From the engrossed text:

AN ACT ENCOURAGING THE FORMATION OF AMMUNITION COMPONENT MANUFACTURING BUSINESSES IN MONTANA; PROVIDING EXEMPTIONS FROM PROPERTY TAXES, INDIVIDUAL INCOME TAXES, CORPORATE INCOME TAXES, AND OTHER BUSINESS-RELATED TAXES TO A MANUFACTURER OF AMMUNITION COMPONENTS; PROVIDING EXEMPTIONS FROM INDIVIDUAL INCOME TAXES AND CORPORATE INCOME TAXES TO AN INVESTOR OR LENDER THAT PROVIDES LOANS TO A MANUFACTURER OF AMMUNITION COMPONENTS; AMENDING SECTIONS 15-6-219, 1530-2120, AND 15-31-113, MCA; AND PROVIDING AN IMMEDIATE EFFECTIVE DATE, A RETROACTIVE APPLICABILITY DATE, AND A TERMINATION DATE. Section 1. Tax exemption for manufacturing of ammunition components -- conditions -- real property exemption applies to safety zone. (1) A person or entity in this state engaged in the primary business of the manufacture of ammunition components that meets the conditions in subsections (2) through (4) is exempt from: (a) property taxes levied for state educational purposes under 20-9-331, 20-9-333, 20-9-360, and 20-25-439; (b) the business equipment tax levied pursuant to 15-6-138; (c) individual income taxes as provided in Title 15, chapter 30; (d) corporate income or alternative corporate income taxes as provided in Title 15, chapter 31; and (e) any other tax on business activity levied by the state, or (ii) an employer's share of employee payroll taxes that are used to finance state-mandated programs, including unemployment insurance and workers' compensation. - 1 - Authorized Print Version - HB 329 …

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