Montana legislation · 2025 Regular Session
Montana HB895: Provide exclusion from income for certain income from sale of a newly constructed residence
Status: Failed, May 20, 2025
What the bill says
A bill for an act entitled: "an act providing an exclusion from income for income tax purposes of a portion of income from the sale of certain newly constructed residences; providing a definition; amending sections 15-30-2120 and 15-31-114, mca; and providing an applicability date.".
From the engrossed text:
A BILL FOR AN ACT ENTITLED: "AN ACT PROVIDING AN EXCLUSION FROM INCOME FOR INCOME TAX PURPOSES OF A PORTION OF INCOME FROM THE SALE OF CERTAIN NEWLY CONSTRUCTED RESIDENCES; PROVIDING A DEFINITION; AMENDING SECTIONS 15-30-2120 AND 15-31-114, MCA; AND PROVIDING AN APPLICABILITY DATE." BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MONTANA: Section 1. Section 15-30-2120, MCA, is amended to read: "15-30-2120. Adjustments to federal taxable income to determine Montana taxable income. (1) The items in subsection (2) are added to and the items in subsection (3) are subtracted from federal taxable income to determine Montana taxable income. (2) The following are added to federal taxable income: (a) to the extent that it is not exempt from taxation by Montana under federal law, interest from obligations of a territory or another state or any political subdivision of a territory or another state and exemptinterest dividends attributable to that interest except to the extent already included in federal taxable income; (b) that portion of a shareholder's income under subchapter S. of Chapter 1 of the Internal Revenue Code that has been reduced by any federal taxes paid by the subchapter S. corporation on the income; (c) depreciation or amortization taken on a title plant as defined in 33-25-105; (d) the recovery during the tax year of an amount …
Sponsors
- Schubert, Lukas (R, 8) · primary sponsor
Latest actions
- : (H) Died in Process
- : (H) Missed Deadline for Revenue Bill Transmittal
- : (H) Fiscal Note Printed
- : (H) Fiscal Note Unsigned
- : (H) Fiscal Note Received
- : (H) Tabled in Committee
- : (H) Hearing
- : (H) Hearing
- : (H) 1st Reading
- : (H) Referred to Committee
Subjects: Taxation--Corporations, Housing, Taxation, Revenue, State, Taxation--Individual Income
Common questions
- What is HB895?
- HB895 is a bill in the Montana Legislature (2025 Regular Session): Provide exclusion from income for certain income from sale of a newly constructed residence.
- What does HB895 do?
- In its own words: A bill for an act entitled: "an act providing an exclusion from income for income tax purposes of a portion of income from the sale of certain newly constructed residences; providing a definition; amending sections 15-30-2120 and 15-31-114, mca; and providing an applicability date.".
- What is the status of HB895?
- Failed as of May 20, 2025. Latest action: (H) Died in Process (May 20, 2025).
- Who sponsored HB895?
- Schubert, Lukas (R, 8).
- Where is the official record for HB895?
- On the Montana Legislature website: https://bills.legmt.gov/#/laws/bill/2/LC1727
Source: official Montana record. Tracked by Delilah, AI for legislation across all 50 states and Congress.