Montana legislation · 2025 Regular Session
Montana HB863: Generally revise state finance laws
Status: Signed into law, May 19, 2025
What the bill says
An act generally revising state finance laws; requiring the board of investments to perform duties in a restricted enterprise fund type; allowing the department of revenue to waive interest on underpaid estimated taxes; temporarily allowing use of the accommodations tax for historical sites at reeder's alley and virginia city; providing for timely transfer of legislative space; providing an appropriation; providing contingent appropriations; providing for a study for the office of budget and program planning on executive agency structure and operations and market and actual wages…
From the engrossed text:
AN ACT GENERALLY REVISING STATE FINANCE LAWS; REQUIRING THE BOARD OF INVESTMENTS TO PERFORM DUTIES IN A RESTRICTED ENTERPRISE FUND TYPE; ALLOWING THE DEPARTMENT OF REVENUE TO WAIVE INTEREST ON UNDERPAID ESTIMATED TAXES; TEMPORARILY ALLOWING USE OF THE ACCOMMODATIONS TAX FOR HISTORICAL SITES AT REEDER'S ALLEY AND VIRGINIA CITY; PROVIDING FOR TIMELY TRANSFER OF LEGISLATIVE SPACE; PROVIDING AN APPROPRIATION; PROVIDING CONTINGENT APPROPRIATIONS; PROVIDING FOR A STUDY FOR THE OFFICE OF BUDGET AND PROGRAM PLANNING ON EXECUTIVE AGENCY STRUCTURE AND OPERATIONS AND MARKET AND ACTUAL WAGES; REQUESTING THAT THE GOVERNOR CALL A SPECIAL SESSION IF CERTAIN FEDERAL ACTIONS AFFECTING MONTANA'S ECONOMY OCCUR; AMENDING SECTIONS 215-1808, 15-30-2512, 15-65-121, AND 17-7-102, MCA; AND PROVIDING AN EFFECTIVE DATE. Section 1. Section 2-15-1808, MCA, is amended to read: "2-15-1808. Board of investments -- allocation -- composition -- quasi-judicial -- reporting. (1) There is a board of investments within the department of commerce. (2) Except as otherwise provided in this subsection, the board is allocated to the department for administrative purposes as prescribed in 2-15-121. The board may employ a chief investment officer and an executive director who have general responsibility for selection and management of the board's staff and for direct investment and economic development activities. The board shall prescribe the duties and annual salaries of the chief investment officer, executive director, and six professional …