Montana legislation · 2025 Regular Session
Montana HB844: Revise the taxation of class eight business equipment
Status: Failed, May 20, 2025
What the bill says
A bill for an act entitled: "an act revising the taxation of class eight business equipment; increasing the amount of exempt business equipment; providing that the business equipment exemption is adjusted annually by inflation; providing that business equipment with a cost of less than $250 is exempt from taxation; providing a reimbursement to local governments and tax increment financing districts under the entitlement share program and to the montana university system for the loss of revenue; providing definitions; amending sections 15-1-123 and 15-6-138, mca…
From the engrossed text:
A BILL FOR AN ACT ENTITLED: "AN ACT REVISING THE TAXATION OF CLASS EIGHT BUSINESS EQUIPMENT; INCREASING THE AMOUNT OF EXEMPT BUSINESS EQUIPMENT; PROVIDING THAT THE BUSINESS EQUIPMENT EXEMPTION IS ADJUSTED ANNUALLY BY INFLATION; PROVIDING THAT BUSINESS EQUIPMENT WITH A COST OF LESS THAN $250 IS EXEMPT FROM TAXATION; PROVIDING A REIMBURSEMENT TO LOCAL GOVERNMENTS AND TAX INCREMENT FINANCING DISTRICTS UNDER THE ENTITLEMENT SHARE PROGRAM AND TO THE MONTANA UNIVERSITY SYSTEM FOR THE LOSS OF REVENUE; 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 …