Revise government entity limitations on property tax increases

HB 865 allows Montana cities and counties to create a "large taxpayer reserve account" by depositing 10% of revenue from newly taxable property (excluding class four) into the fund. This money can only be used if a major taxpayer (top 20% by value) leaves or experiences a 25%+ drop in property value, to pay for capital projects, reduce mill levies for affected areas, attract new businesses, or fund infrastructure. The bill also adjusts how local governments calculate property tax levies by changing the percentage of new property value that counts toward tax limits. The bill was withdrawn on March 29, 2025, after committee hearings.