Montana legislation · 2025 Regular Session
Montana SB159: Establish subtrust within the coal trust to increase educational tax credits
Status: Failed, May 23, 2025
What the bill says
A bill for an act entitled: "an act generally revising state finance laws related to the coal severance tax trust fund and educational tax credits; establishing an educational opportunity fund within the coal severance tax trust fund and utilizing a portion of the earnings from the fund to increase the aggregate limits for educational tax credits; providing for a funds transfer; removing the sunset from the educational tax credit programs; amending sections 15-30-3110, 15-30-3111, and 17-5-703, mca; amending section 24, chapter 480, laws of 2021, and section 7, chapter 558, laws of 2023…
From the engrossed text:
A BILL FOR AN ACT ENTITLED: "AN ACT GENERALLY REVISING STATE FINANCE LAWS RELATED TO THE COAL SEVERANCE TAX TRUST FUND AND EDUCATIONAL TAX CREDITS; ESTABLISHING AN EDUCATIONAL OPPORTUNITY FUND WITHIN THE COAL SEVERANCE TAX TRUST FUND AND UTILIZING A PORTION OF THE EARNINGS FROM THE FUND TO INCREASE THE AGGREGATE LIMITS FOR EDUCATIONAL TAX CREDITS; PROVIDING FOR A FUNDS TRANSFER; REMOVING THE SUNSET FROM THE EDUCATIONAL TAX CREDIT PROGRAMS; AMENDING SECTIONS 15-30-3110, 15-30-3111, AND 17-5-703, MCA; AMENDING SECTION 24, CHAPTER 480, LAWS OF 2021, AND SECTION 7, CHAPTER 558, LAWS OF 2023; REPEALING SECTION 33, CHAPTER 457, LAWS OF 2015, SECTION 20, CHAPTER 480, LAWS OF 2021, AND SECTION 12, CHAPTER 558, LAWS OF 2023; AND PROVIDING AN EFFECTIVE DATE." BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MONTANA: Section 1. Section 15-30-3110, MCA, is amended to read: "15-30-3110. (Temporary) Credit for providing supplemental funding to public schools -- innovative educational program. (1) Subject to subsection (4), a taxpayer or corporation is allowed a credit against the tax imposed by chapter 30 or 31 for donations made to a school district for the purpose of providing supplemental funding to the school district for innovative educational programs. The amount of the credit allowed is equal to the amount of the donation, not to exceed $200,000. (2) (a) If …