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State Library reports coal severance tax revenues down; reserve likely to be drawn down by FY25
Summary
At a Jan. hearing of the Joint Appropriations Subcommittee on Education, State Library staff told lawmakers that coal severance tax revenues have fallen and that an excess reserve used for the hotspot program will likely be depleted by the end of fiscal 2025, with projected FY25 revenues about 6% below FY24 levels.
State Librarian Jenny Stapp and Central Services Manager Melissa Bridal told the Joint Appropriations Subcommittee on Education that coal severance tax fund revenues supporting the Montana State Library have declined and that the library expects to largely use its excess reserve by the end of FY25.
Bridal summarized the library's handout on the fund and said the library receives about 93% of coal severance tax revenues dedicated to their programs. She told the committee, “by the end of this fiscal year, FY '25, we will have depleted…
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