Revise government entity limitations on property tax increases

This bill (LC 1170) creates a "large taxpayer reserve account" for Montana cities and counties. It requires local governments to deposit 10% of revenue from newly taxable property (excluding class four) into this account annually. Funds can only be spent if a "large taxpayer" (top 20% of taxable value in the jurisdiction) permanently leaves or their property value drops by 25% or more, then used for bond payments, temporary tax reductions, attracting new businesses, job expansion, or related infrastructure. The bill also revises property tax calculation rules to increase the inflation cap used for levy limits and adjusts how newly taxable property affects tax rates.