MT HB326

Imposes a 2% energy severance tax on the sale price of electricity produced from water, wind, solar, or other non-coal sources in Montana, with quarterly tax returns due to the Department of Revenue

Exempts coal-fired electrical generation and facilities used exclusively for noncommercial or agricultural purposes from the new tax

Allocates tax revenue 50% to a new State Energy Resources Trust Account (principal protected until exceeding $250 million) and 50% to the Montana Coal Endowment Regional Special Revenue Account for local government infrastructure projects

Creates contingent funding structure for a future State Energy Authority, with revenue split changing to 50% trust account, 40% authority operations, and 10% authority resource trust if the legislature establishes such an authority

Effective January 1, 2026, applying to new electricity sale contracts entered into on or after that date