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Bill moves non-levy mineral and grazing revenues into dedicated school equalization account
Summary
House Bill 18 would deposit non-levy revenues (Taylor Grazing Act receipts and bentonite proceeds) into the SCEPTER account to continue funding school equalization; sponsor said the funds will be distributed as originally intended and the bill passed the House unanimously earlier.
Representative Mark Thane opened House Bill 18 and told the committee the bill implements a provision from last session that created the SCEPTER account to accept proceeds that were previously routed through the general fund. "The proceeds from the 95 mills flow straight to the scepter account to then be redistributed through the school equalization formula," Thane said.
Thane told members the bill transfers certain non-levy revenues (identified in the fiscal note as Taylor Grazing Act receipts and bentonite-mining proceeds) to the SCEPTER account so they continue to flow to the school equalization formula. The fiscal summary in the note shows a corresponding reduction to the general fund and an increase to the SCEPTER state special revenue account for the same amounts.
There were no proponents or opponents in the hearing; informational witnesses included Dylan Cole from the Department of Revenue and Kurt Swimley from the Legislative Fiscal Division. Thane said the bill was vetted by the Revenue Interim Committee and passed the House unanimously, and he asked the Finance & Claims Committee for a "green vote." The committee later concurred with House Bill 18 during its executive-action session.
