HB 242 - Constitutional Amendment to Establish Natural Resources Trust Fund

Rep. Tom Jacobson, (D-Great Falls), HD 21

This bill would revise the coal tax trust fund to include a small percentage of revenue from the oil and gas production tax. The coal tax trust fund would be renamed the Natural Resources Trust Fund, and the amount of taxes diverted into the trust fund from the oil and gas production tax would increase incrementally from 2020 through 2025.

This bill creates a stable funding mechanism for the Montana through long-term investments, and assures that future generations will benefit from the extractions of finite natural resources such as oil and gas.

MEIC's Position: Support | Current bill status: Tabled in House Taxation on January 27th. | Official legislative site

Issue area: