MT HB483

Fixes state and county school equalization mill levies at 95 mills total (33 mills for elementary, 22 mills for high school, 40 mills for state equalization) as permanent amounts no longer subject to annual inflation-based adjustments under Section 15-10-420, MCA.

Requires the Office of Public Instruction and Department of Revenue to collaborate annually to adjust guaranteed tax base (GTB) multipliers to prevent statewide property tax increases resulting from property reappraisals.

Increases the state share of school transportation reimbursements from 50% to 75% of scheduled amounts, while reducing the county share from 50% to 25%, contingent on property tax legislation generating revenue above $441.624 million from school equalization levies in fiscal year 2026.

Sets the statewide GTB ratio multiplier at 262% for fiscal year 2026 and beyond (up from 259% in FY2025) and maintains the retirement GTB multiplier at 189%, with provisions for the superintendent to adjust these based on available revenue.

Applies to school district budgeting and funding distributions beginning July 1, 2025, with an immediate effective date upon passage and approval.