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Code · Montana · Title 15 — Taxation · Chapter 1 · Part 1

15-1-120. Policy and purpose.

102 words·~1 min read·/mt/title-15/chapter-1/part-1/15-1-120·

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15-1-120 . Policy and purpose.
(1)The purpose of Chapter 574, Laws of 2001, is to establish a financial partnership between state and local governments.
(2)This partnership is founded on trust and is committed to protecting and promoting the financial interests of cities, towns, counties, local schools, special districts, and state government.
(3)Local governments agree to relinquish dedicated revenue in exchange for an entitlement share of the state general fund based on a formula that responds to the performance of the Montana economy.
(4)The legislature agrees to fund the entitlement share in accordance with the provisions of 15-1-121 .
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