2005 Montana Code Annotated - 15-1-113 — Reimbursement payment.

     15-1-113. Reimbursement payment. (1) The department shall determine the amount of fee in lieu of property tax lost by each local government as a result of the amendments to 61-3-529 contained in sections 2 through 4, Chapter 500, Laws of 2001. The department shall use calendar year 2002 as its base year for each determination.
     (2) (a) The department shall determine the amount of revenue due each local government for calendar year 2002 from the fee in lieu of property tax imposed in 61-3-529.
     (b) The department shall then calculate for each local government for calendar year 2002 the amount of revenue that would have been due from the fee in lieu of tax imposed in section 2, Chapter 500, Laws of 2001, if section 2, Chapter 500, Laws of 2001, had been in effect for calendar year 2002.
     (3) (a) For fiscal year 2003, the amount of reimbursement is equal to one-half the difference between the amounts calculated under subsection (2).
     (b) For fiscal year 2004, the reimbursement is three times the amount calculated in subsection (3)(a).
     (c) For fiscal year 2005, the reimbursement is five times the amount calculated in subsection (3)(a).
     (d) For fiscal year 2006 and for each succeeding fiscal year, the reimbursement is six times the amount calculated in subsection (3)(a).
     (4) The department shall distribute the reimbursement payments to local governments on the following quarterly schedule:
     (a) For fiscal 2003, the quarterly payments will be paid on or before March 31, 2003, and June 30, 2003.
     (b) For fiscal 2004, and each succeeding fiscal year, the quarterly payments will be paid on or before September 30, December 31, March 31, and June 30 of each year.
     (5) As used in this section, "local government" means a county, consolidated local government, incorporated city, incorporated town, or school district.
     (6) The local government reimbursements calculated in this section are statutorily appropriated, as provided in 17-7-502, from the general fund to the department for distribution to local governments.

     History: En. Sec. 5, Ch. 500, L. 2001.