Montana legislation · 2025 Regular Session
Montana SB322: Increase business equipment tax exemption
Status: Failed, May 23, 2025
What the bill says
A bill for an act entitled: "an act increasing the class eight business equipment tax exemption; providing a reimbursement to local governments and tax increment financing districts under the entitlement share program; providing that the business equipment exemption is adjusted annually by inflation; providing that business equipment with a cost of less than $500 is exempt from taxation; providing definitions; amending sections 15-1-123 and 15-6-138, mca; and providing an applicability date.".
From the engrossed text:
A BILL FOR AN ACT ENTITLED: "AN ACT INCREASING THE CLASS EIGHT BUSINESS EQUIPMENT TAX EXEMPTION; PROVIDING A REIMBURSEMENT TO LOCAL GOVERNMENTS AND TAX INCREMENT FINANCING DISTRICTS UNDER THE ENTITLEMENT SHARE PROGRAM; PROVIDING THAT THE BUSINESS EQUIPMENT EXEMPTION IS ADJUSTED ANNUALLY BY INFLATION; PROVIDING THAT BUSINESS EQUIPMENT WITH A COST OF LESS THAN $500 IS EXEMPT FROM TAXATION; PROVIDING DEFINITIONS; AMENDING SECTIONS 15-1-123 AND 15-6-138, MCA; AND PROVIDING AN APPLICABILITY DATE." BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MONTANA: Section 1. Section 15-1-123, MCA, is amended to read: "15-1-123. Reimbursement for class eight rate reduction and exemption -- distribution -- appropriations. (1) Except as provided in subsection (2), for the tax rate reductions in 15-6-138(3), the increased exemption amount in 15-6-138(4), the effective tax rate reductions on property under 15-6-145 because of the rate reductions required by the amendments of 15-6-138 in section 2, Chapter 411, Laws of 2011, and section 2, Chapter 396, Laws of 2013, and the effective tax rate reductions on property under 15-6145 because of the increased exemption amount required by the amendment of 15-6-138 in section 2, Chapter 396, Laws of 2013, the department shall reimburse each local government, as defined in 15-1-121(5), each tax increment financing district, and the 6-mill university levy for the purposes of 15-10-109 the difference between property …
Sponsors
- Kassmier, Josh (R, 13) · primary sponsor
Latest actions
- : (S) Died in Process
- : (H) Motion
- : (S) Revised Fiscal Note Signed
- : (S) Fiscal Note Unsigned
- : (S) Revised Fiscal Note Received
- : (H) Tabled in Committee
- : (H) Hearing
- : (H) Rereferred to Committee
- : (H) 2nd Reading
- : (H) Scheduled for 2nd Reading
Votes
- Take from APH to third reading (April 24, 2025): 48 yea, 52 nay, failed
- Do Concur (April 22, 2025): 55 yea, 44 nay, passed
- Do Pass (April 4, 2025): 40 yea, 9 nay, passed
- Do Pass (April 3, 2025): 36 yea, 12 nay, passed
- Do Pass (April 1, 2025): 39 yea, 11 nay, passed
Subjects: Taxation, Revenue, State, Revenue, Local, Education - School Finance, Local Government, Taxation--Property
Common questions
- What is SB322?
- SB322 is a bill in the Montana Legislature (2025 Regular Session): Increase business equipment tax exemption.
- What does SB322 do?
- In its own words: A bill for an act entitled: "an act increasing the class eight business equipment tax exemption; providing a reimbursement to local governments and tax increment financing districts under the entitlement share program; providing that the business equipment exemption is adjusted annually by inflation; providing that business equipment with a cost of less than $500 is exempt from taxation; providing definitions; amending sections 15-1-123 and 15-6-138, mca; and providing an applicability date.".
- What is the status of SB322?
- Failed as of May 23, 2025. Latest action: (S) Died in Process (May 23, 2025).
- Who sponsored SB322?
- Kassmier, Josh (R, 13).
- Where is the official record for SB322?
- On the Montana Legislature website: https://bills.legmt.gov/#/laws/bill/2/LC0446
Source: official Montana record. Tracked by Delilah, AI for legislation across all 50 states and Congress.