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Montana bill would keep voter-approved school and bond levies out of TIF calculations
Summary
House Bill 451 would exclude new voted school levies and general-obligation bond levies from tax increment financing calculations so revenues from those levies go to the ballot-stated purpose rather than the TIF increment, proponents told the House Tax Committee.
Representative Mark Thane, R-House District 89, introduced House Bill 451 and told the House Tax Committee the bill would exclude certain newly voted mill levies from the calculation of tax increment financing (TIF) in urban renewal and targeted economic development districts. "House Bill 451 excludes certain new voted levies from the tax increment calculation," Thane said, adding that the change is intended to direct voter-approved mills to the specific purposes stated on ballots.
Thane opened with a brief primer on TIFs, explaining that when an urban renewal district is formed the district's taxable value at that time becomes the base; increases in taxable value…
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