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
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
9
Key actions
0
Committee
0
0 primary · 0 co-sponsors
Sponsors
No sponsor information available.
Ask Maddy
·
AI policy assistant
Ask Maddy about LC 1859
Scope: MT
Hi! I can help you understand LC 1859. What would you like to know?
Try one of these
i
Maddy answers using official bill text and legislative records. Always verify before sharing.
Sources cited inline