HB 863: Generally revise state finance laws - Montana

HB0863_2(14).pdf → HB0863_X(5).pdf · 2 edits

MINOR

The bill was transitioned from a House Bill to an Enrolled Bill, indicating it has been approved by both legislative chambers and the Governor. The substantive text of the bill remains largely unchanged, with minor formatting adjustments to the header and section numbering. The core policy provisions regarding state finance laws, investment board duties, tax interest waivers, and appropriations are preserved.

Scope change

The bill's scope and applicability remain unchanged; the only change is its procedural status from a House Bill to an Enrolled Bill.

TECHNICAL

The document header was updated to reflect the bill's final status as an 'Enrolled Bill' instead of a 'House Bill', signifying legislative completion.

Minor formatting adjustments were made to the page headers and section numbering to align with the enrolled bill format.

HB0863_X(4).pdf → HB0863_2(14).pdf · 2 edits

MINOR

The bill was renumbered from HB 863 to HB0863.2 and its title was updated to reflect the new bill number. The substantive text of the act, which revises state finance laws and amends specific Montana Code Annotated sections, remains unchanged.

TECHNICAL

The bill number was changed from HB 863 to HB0863.2 to align with the official enrolled bill number.

The descriptive title of the act was updated to include the new bill number HB0863.2.

HB0863_X(2).pdf → HB0863_X(3).pdf · 3 edits

MINOR

The bill title was updated to include 'Market and Actual Wages' and to specify that the Governor should call a special session if certain federal actions affect Montana's economy. The composition of the Board of Investments was expanded to include two new ex officio, nonvoting members. Additionally, the Board's reporting requirements were modified to include the Senate Finance and Claims Committee and the General Government Joint Appropriations Subcommittee upon request.

Scope change

The bill's scope was expanded to explicitly address federal economic impacts and to include additional members and reporting lines for the Board of Investments.

REQUIREMENT

Added a requirement for the Governor to call a special session if specific federal actions negatively impact Montana's economy.

Modified the Board of Investments' reporting obligations to include the Senate Finance and Claims Committee and the General Government Joint Appropriations Subcommittee.

DEFINITION

Added two ex officio, nonvoting members to the composition of the Board of Investments.

HB0863_2(13).pdf → HB0863_X.pdf · 3 edits

MINOR

The bill was finalized into an enrolled version, updating the title to reflect new provisions about waiving tax interest and using accommodations tax for specific historical sites. The text was reformatted to remove draft markers and align with official legislative standards. No substantive policy changes, funding amounts, or eligibility criteria were altered in this version.

Scope change

The bill's scope and applicability remain unchanged; this version only reflects the finalization of the text.

TECHNICAL

Removed draft indicators (e.g., 'HB0863.2') and formatting inconsistencies to match the official enrolled bill format.

Adjusted the title line to include new topics like waiving tax interest and accommodations tax usage for Reeder's Alley and Virginia City.

Reformatted the Board of Investments section to correct indentation and spacing for official publication.

HB0863_2(7).pdf → HB0863_2(8).pdf · 1 edit

MINOR

The amendment corrects a formatting inconsistency in the bill by changing the word 'INSTALLMENT' to 'Installment' to match standard capitalization conventions. This change ensures consistency in the document's presentation of tax payment schedules but does not alter any legal requirements, dates, or financial obligations.

TECHNICAL

Capitalization of the word 'Installment' was adjusted from all uppercase to title case to align with standard text formatting.

HB0863_2(3).pdf → HB0863_2(4).pdf · 4 edits

MODERATE

This bill amends the Montana Board of Investments to clarify its administrative structure and expand its membership to include representatives from the financial community, small business, agriculture, and labor. It also adds a requirement for the board to report its budget to specific legislative committees. A second section updates estimated tax payment rules, maintaining existing thresholds for exemptions and installment schedules.

Scope change

The scope of the Board of Investments was expanded by adding four new categories of voting members to its composition, and its reporting obligations were increased to include specific legislative committees.

REQUIREMENT

Added a requirement for the Board of Investments to present its budget to the legislative finance committee, state administrative and veterans' affairs interim committee, and general government interim budget committee on a biannual basis.

SCOPE

Expanded the Board of Investments membership by adding seven new voting members representing the financial community, small business, agriculture, and labor, alongside existing retirement board members.

DEFINITION

Clarified the administrative allocation of the Board of Investments and the specific duties and salaries of its executive staff.

TECHNICAL

Updated the formatting and numbering of the estimated tax payment section to align with current statutory structure.

HB0863_2.pdf → HB0863_2(1).pdf · 3 edits

MINOR

The bill reorganizes the structure of the Board of Investments by separating its administrative staffing rules from its membership composition, while simultaneously updating tax payment thresholds and schedules for individuals. These changes clarify the board's governance structure and adjust the financial obligations for taxpayers based on updated liability calculations.

Scope change

The scope of the bill's applicability was modified to restructure the Board of Investments' statutory language and update tax filing requirements for individuals.

REQUIREMENT

The Board of Investments section was restructured to separate staffing authority (Section 1) from member composition (Section 3), clarifying that the board consists of nine appointed members, seven public representatives, and two legislative liaisons.

Tax payment requirements were updated to allow individuals to pay 90% of the current year's tax liability or 100% of the preceding year's liability, replacing the previous 100% current year requirement.

TIMELINE

The schedule for estimated tax payments was modified to include specific installment dates for taxpayers whose tax year begins on January 1.

HB0863_1(6).pdf → HB0863_2.pdf · 5 edits

MODERATE

The bill text was reformatted to include a new title summarizing five distinct policy areas: revising state finance laws, restricting the Board of Investments' duties, waiving interest on underpaid taxes, allowing tax revenue for specific historical sites, and studying executive agency structure. The substantive policy content regarding the Board of Investments and tax laws was largely preserved but reorganized under a new, broader scope.

Scope change

The bill's scope expanded from a single focus on state finance definitions to a multi-topic package covering investment board restrictions, tax interest waivers, and historical site funding.

SCOPE

Added a new bill title summarizing five separate policy initiatives including tax waivers and historical site funding.

DEFINITION

Reorganized the definitions section of the Board of Investments chapter to align with the new restricted enterprise fund type requirements.

REQUIREMENT

Introduced a new requirement for the Board of Investments to operate as a restricted enterprise fund type.

Added provisions allowing the Department of Revenue to waive interest on underpaid estimated taxes under specific circumstances.

FISCAL

Added language permitting the use of accommodations tax revenue for Reeder's Alley and Virginia City historical sites.

LC1150.pdf → HB0863_1.pdf · 2 edits

MINOR

The bill was renumbered from LC 1150 to HB 863.1, indicating it has been formally introduced as a House Bill rather than a Legislative Committee bill. The primary substantive change is the addition of six new co-sponsors (L. Jones, J. Esp, C. Glimm, D. Bedey, B. Mercer, and E. Tillemann) alongside the original sponsor, expanding the coalition of legislators supporting the measure. No changes to the bill's text, funding levels, or policy requirements were found in the provided excerpts.

TECHNICAL

Added six co-sponsors to the bill, expanding the legislative support base.

Changed the bill identifier from LC 1150 to HB 863.1 to reflect its status as an introduced House Bill.

Generally revise state finance laws

What changed between versions

How they voted

Actions timeline

Sponsors