Revise tax rate for agriculture property owned by certain nonprofits

This Montana bill increases the property tax rate for agricultural land owned by certain nonprofits from 2.16% to 21.6% of the land's productive capacity value. It applies only to land acquired after the bill's effective date and owned by nonprofits not listed as exempt (such as churches, schools, hospitals, low-income housing providers, cemeteries, residential treatment centers, veteran housing organizations, or rural cooperatives). Nonprofits in the exempt categories remain subject to the standard agricultural tax rate of 2.16%. The bill takes immediate effect upon enactment.