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Committee hears Senate Bill 171 to route a portion of surplus revenues into coal severance trust
Summary
Senate Bill 171 would add a step in Montana's budget-stabilization flow so that, after other reserves are filled, up to 10% of remaining excess revenue could be deposited to the coal severance trust; sponsors said the bill is prospective and the fiscal note shows no near-term revenue impact.
Senate Bill 171, a proposal to direct a share of excess state revenue into Montana’s coal severance trust, received a hearing before the Appropriations Committee on March 15. The bill’s sponsor, Sen. Dave Fern, introduced the measure and described a tiered flow for surplus revenue that would funnel a portion into the coal trust once other reserves and priorities are satisfied.
The bill “is a very short bill,” Sen. Dave Fern said, explaining the mechanics: after filling the budget stabilization reserve and then capital-related reserves, a remaining split would allocate 75% toward a pension account, 15% to the general fund and 10% to the coal severance trust when the prior buckets are full. “If we’re lucky enough to be in a situation…10% can go deposit into the coal trust,” Fern told the committee.
The nut graph: supporters said the change is intended…
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