LC 1859 Legislature · 2025 Regular Session

Transfer a portion of ending fund balance into the coal trust fund

This bill directs Montana state officials to transfer excess funds from the general fund into the Montana Coal Severance Tax Permanent Fund beginning in 2025. The law establishes specific thresholds for when these transfers occur, requiring that once certain reserve levels are met, additional surplus money must be distributed to various accounts including the coal trust fund. The mechanism calculates excess revenue by comparing current fiscal year income against a historical growth rate, then applies a distribution formula that sends 10% of any remaining surplus to the coal trust after other funds reach their designated limits. This change affects the state treasurer and department of administration, who will be responsible for calculating and executing the transfers according to the new statutory requirements. The bill takes effect on July 1, 2025, and modifies existing Montana Code Annotated provisions regarding budget stabilization and fund transfers.
Bill status died 1 of 4 stages cleared
Introduction
Nov 2024
Committee Review
Floor Vote
Governor
Introduced Nov 22, 2024 Last action Jan 15, 2025
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