MT SB540

Extends the deadline for dedicated communications infrastructure construction to qualify for Class 17 property tax treatment from June 30, 2027 to June 30, 2037

Creates a new category of "local dedicated communications infrastructure" for infrastructure located within a single county and within the boundaries of a qualified data center's parcels, which must be locally assessed rather than centrally assessed

Requires qualified data center property owners to report installed costs of all property, including dedicated communications infrastructure, to the department by March 1 each year

Maintains the Class 17 property tax rate at 0.9% of market value, with dedicated communications infrastructure receiving this rate for 15 years before transitioning to Class 13 taxation at 6%

Takes effect immediately upon passage and applies retroactively to property tax years beginning after December 31, 2024