MT SB322

Increases the Class Eight business equipment tax exemption from $1.3 million to $1.5 million of market value per person or business entity

Requires the Montana Department of Revenue to reimburse local governments, tax increment financing districts, and the 6-mill university levy for lost property tax revenue resulting from the increased exemption

Reimbursements to local governments will be distributed through the entitlement share program, with a 0% growth rate applied to reimbursements for the increased exemption amount

Class Eight property includes agricultural implements, mining machinery, oil and gas production equipment, manufacturing equipment, rental goods, commercial furniture and fixtures, and various other business equipment

Applies to tax years beginning after December 31, 2025