[{"_1":2,"_100":-5,"_101":-5},"loaderData",{"_3":4,"_26":27},"root",{"_5":6,"_17":10,"_18":19,"_20":21,"_22":10,"_23":-5,"_24":-5,"_25":10},"user",{"_7":8,"_9":10,"_11":10,"_12":-5,"_13":-5,"_14":15,"_16":-5},"roles",[],"isAuthenticated",false,"isPremium","planName","subscriptionStatus","featureFlags",{},"insightsBudget","isDevelopmentHost","userPreferences",{},"recaptchaSiteKey","6LcvOJcUAAAAAHsB-gPGfGktcRlKpH7OTIU_dMTD","isImpersonating","impersonation","affiliateStatus","isFreedomPortal","routes/v2/article/layout",{"_28":29,"_30":31},"notFound",true,"relatedArticles",[32,76,88],{"_33":34,"_35":36,"_37":38,"_39":40,"_41":42,"_43":44,"_45":46,"_47":48,"_49":50,"_51":52,"_53":54,"_55":56,"_57":58,"_59":60,"_61":62,"_63":64,"_65":66,"_67":68,"_69":70,"_71":72,"_73":74,"_75":74},"mediaId",6107047,"mediaKeyId","2779051-0432de901895b3b049e0beae06199a03","parentId",2779051,"title","Hearing on HB 831 would raise elderly homeowner/renter credit and expand eligibility, sponsor says it adds about 3,300 recipients","audioSeconds",1026,"startMs",2433000,"endMs",3459000,"viewUrl","/Search/View?dp=1&key=2779051-0432de901895b3b049e0beae06199a03&start=2433&end=3459","thumbnailUrl","https://assets.pipeline.soar.com/2779051-0432de901895b3b049e0beae06199a03/thumbnail_2433000.jpg","articleUrl","/articles/6107047/Montana/Hearing-on-HB-831-would-raise-elderly-homeownerrenter-credit-and-expand-eligibility-sponsor-says-it-adds-about-3300-recipients","mediaUrl","https://secure.pipeline.soar.com/6107047-0da835342a45b3269a94f0d41b05bbca/orig.mp4?Expires=1771167508&Signature=FYosmYDqb5N8cnpY6ft-qj1q-MJ46rGd6SPzqf40w~5OaGt~v4jXdI0d-jsWpqY0mU5wRaAVCvPeqoNNtTNyVnaikh4qWcNO3Troo1vxoVzIQdbw2z66YK2ELC0YxV0GSzi4SoKVmSf9vR5UR05bWJ7ChYApA-Hi93HAXy4SKbdO2fUsEtyIhSzg5VmdB5mfVocqdd~JPnSaaJ70hx7gZM84LjTLZuO5~pMvhXGOZskSatA~fBjeKSbs-WyYAsU1n0mnmO8GUU1hmn5KEnGZnWBTehY5Hp~EMjq8uGIr8a~fYXEGEBNjzl1A4PfPxHkrP5jvXanGIsJZE~63eULSwg__&Key-Pair-Id=KUT5TJCACFTXG","author","Montana Legislature","date","2025-03-26T00:00:00Z","article","Representative George Nikolicakos, sponsor of House Bill 831, told the Appropriations Committee the bill would increase the state’s elderly homeowner/renter tax credit (commonly called the 2EC) and expand eligibility thresholds to provide property‑tax relief to more low‑income seniors. “8 31 adds 3,300 Montanans to property tax relief rolls,” the sponsor said, summarizing the bill’s estimated coverage.

As written, HB 831 proposes to increase the program’s maximum credit from $1,150 to $1,400 and to raise the program’s gross household income exclusion from $12,600 to $14,100. The sponsor also described changes to the step multipliers and phase‑out that, he said, make the program less “cliff‑like” and more graduated.

Dylan Cole of the Department of Revenue appeared as an informational witness and explained major assumptions used in the fiscal note. Cole said the department’s estimate adjusts for the fact that rebate data does not capture all elderly homeowner‑credit filers and that the fiscal note increases the sample estimate by 10% to reflect under‑capture (the fiscal note assumes 90% of credit claimants were present in the rebate sample). He also explained that the department applied the current owner/renter split for program participants to project how new eligibility would distribute benefits between homeowners and renters.

Committee members asked why some eligible households do not claim the credit and whether the program’s household income definition includes non‑taxable income such as Social Security benefits. Cole said the program’s household income calculation includes non‑taxable income and that uptake can be limited by awareness and filing behavior; he described operational challenges in matching rebate data to tax returns.

Sponsor estimates and fiscal note assumptions attributed to the bill include: an increase of roughly 3,000–3,300 participants and an added general fund cost in the low millions (the sponsor cited $2.7 million as the projected fiscal impact from the primary changes as written). The sponsor and DOR staff agreed the numbers are estimates and that adjustments to the bill’s brackets or multipliers could reduce cost.

Representative Nikolicakos closed by urging the committee to include HB 831 as part of a broader package of property‑tax relief measures.

Ending: The committee closed the HB 831 hearing after informational testimony and questions; no committee vote appears in the hearing transcript.","mediaType","Video","parentTitle","House Appropriations - Wednesday, Mar 26, 2025 08:53 - 09:57","oneSentenceSummary","House Bill 831 would increase the elderly homeowner/renter income tax credit, raise income-exclusion thresholds, and adjust phase‑out steps; sponsor and Department of Revenue staff outlined projected participant increases and fiscal impacts and discussed implementation and utilization issues.","taxTitle","2025 Legislature MT, Montana","taxId",77694,"location","Montana","headline","","shortSummary",{"_33":77,"_35":36,"_37":38,"_39":78,"_41":79,"_43":80,"_45":81,"_47":82,"_49":83,"_51":84,"_53":85,"_55":56,"_57":58,"_59":86,"_61":62,"_63":64,"_65":87,"_67":68,"_69":70,"_71":72,"_73":74,"_75":74},6107052,"Appropriations hears bill to remove $100,000 premium tax cap for series captive insurers",550,1906000,2456000,"/Search/View?dp=1&key=2779051-0432de901895b3b049e0beae06199a03&start=1906&end=2456","https://assets.pipeline.soar.com/2779051-0432de901895b3b049e0beae06199a03/thumbnail_1906000.jpg","/articles/6107052/Montana/Appropriations-hears-bill-to-remove-100000-premium-tax-cap-for-series-captive-insurers","https://secure.pipeline.soar.com/6107052-19274bcb09f14d6c211b63f13c79acf9/orig.mp4?Expires=1771167508&Signature=HrNA01Ukboe3sfzCLrZK02wJQja6SHEuadUOOPvq3EgnbH57pA~pBjAG9VowzlCD3zrfkfoTgnGV2hHR62XxjyYp7tJbR-Jlp1Tf9deyzxJo~PG3ePrg5VsQkqweaIHulB6ewh9Og9kgX4b2I5T89sUhh7Daw8s2VfwupUK7hndg1dcgARslr-8SpddZ51-zE27ZxAr6hfUSc1GXAQ-2QTuF25EZkX1Fo4KWLV5NIa1GpA-I2FeoyrfbZ-tizcYYqa2folG7yXGNaeC90v4bJa2vwQ-6STKEKm8BZTqzQw-E-hXkOgKX~WMN8mbamng7baMUH3~d~sqmg43FoMCfVw__&Key-Pair-Id=KUT5TJCACFTXG","Senator Noland introduced Senate Bill 60 and its fiscal implications to the Appropriations Committee, saying the bill would remove the statutory $100,000 premium tax cap that currently applies to series business unit captive insurance companies for tax years beginning after Dec. 31, 2025.

Frank Cote, representing the commissioner of securities and insurance, testified as a proponent. Cote explained the captive structures at a high level and why the change would increase premium-tax receipts: in 2019 the legislature removed a cap for protective cell captives but left a cap in place for series business unit captives, creating what witnesses described as inequitable tax treatment. “A captive insurance company is essentially a wholly owned subsidiary insurer that is formed to provide risk mitigation services for its parent company,” Cote said, explaining why the series and protective‑cell forms are similar in function.

Cote and other supporters told the committee that only one Montana series business unit captive currently sits at the cap, and the captive association supports removing the limit. They said the captive at the cap insures multifamily properties and that the market for that coverage is growing, which would increase premium-tax receipts if the cap were removed.

Committee members sought clarity on consumer impact and liability. Cote said the change would not directly affect Montana consumers’ everyday insurance markets, and described the role of these captives as entities that self-insure or provide coverage for affiliated commercial risk. He said that the series-business-unit form can provide liability coverage and that removing the cap does not change the basic risk-transfer purpose of captives.

Senator Noland closed the hearing by urging support for the bill. No committee vote was recorded in the hearing record.

Ending: The SB 60 hearing closed with proponent testimony and questions; the transcript records no committee vote.","Senate Bill 60 would remove a $100,000 cap on premium tax for series business unit captive insurers; state official and industry witnesses told the committee the change is intended to equalize tax treatment and could raise premium tax revenues as the captive sector grows.",{"_33":89,"_35":36,"_37":38,"_39":90,"_41":91,"_43":92,"_45":93,"_47":94,"_49":95,"_51":96,"_53":97,"_55":56,"_57":58,"_59":98,"_61":62,"_63":64,"_65":99,"_67":68,"_69":70,"_71":72,"_73":74,"_75":74},6107057,"Committee hears bill to raise MFFA bonding cap, sponsor urges ‘due pass’",1438,508000,1946000,"/Search/View?dp=1&key=2779051-0432de901895b3b049e0beae06199a03&start=508&end=1946","https://assets.pipeline.soar.com/2779051-0432de901895b3b049e0beae06199a03/thumbnail_508000.jpg","/articles/6107057/Montana/Committee-hears-bill-to-raise-MFFA-bonding-cap-sponsor-urges-due-pass","https://secure.pipeline.soar.com/6107057-f5f89fa3a7afe16612cfdf026b768208/orig.mp4?Expires=1771167508&Signature=nXP-jbZIC1Z15znI44ln6Go0v-O72fByHJ9m9WrWJvuKmlSiUvPHgYDjd3XCGNqdiz6WBNsIl2ziKyu03wlzzwAi7MJh24vULIobBx24~bMtnKmiP37nlTJlzkHrzg1q-BOfSH5Lz~8Sy59l8adDcR6LYTnyVLd6b9URitIG243rwTdLSf8mmpPbsErYL6sV71N-IXMDBNTCCREizTZWPp1qfSEhCr7PZEw0hHpixHVMLeKMo8N9ioGsL7vkpf10k~O9O7q-EDD4Abw07sM9aqnaK2S5jzARZfB3~Mnfh4uyMOVoUxqgRSca5u59kkKJSifgxSyjL-yQ2L-8ujp6oA__&Key-Pair-Id=KUT5TJCACFTXG","Representative Schomer, sponsor of Senate Bill 104, told the Appropriations Committee that the bill would raise the statutory cap on the facility finance authority’s conduit bond program to allow larger projects and more issuances. “This bill increases the revenues for MFFA which can cover any increases in costs and creates revenue for the general fund,” Schomer said.

The hearing featured testimony from Adam Gill, representing the facility finance authority (MFFA). Gill described the authority as a conduit that connects borrowers with lenders and said expanding the cap would let the authority facilitate larger projects for hospitals, schools, museums, businesses and certain large private projects. “By giving us that room, it allows us to do more bonds of different types and raises our caps so we can do larger projects,” Gill said.

Gill said the MFFA is an enterprise fund attached to the Montana Department of Commerce, supported by fees and reserves, and that the authority has been profitable in recent years. He told committee members the state levies a statutory charge of 3 basis points on every new issuance (about $0.30 per $1,000 issued) that flows to the general fund under MCA 17-5-2201. He described the fiscal projections in the bill’s fiscal note as market-dependent and not guaranteed.

Committee members asked about credit quality, borrower default history and program demand. Gill said that in roughly 40 years and about $4 billion of conduit issuances the authority had not experienced a borrower default, and that no current borrowers are more than 30 days delinquent “to our knowledge.” He described the program’s market niche: tax-exempt conduit financing becomes attractive for large nonprofit or qualifying projects where the tax benefit can meaningfully lower rates, and conduit financing can provide access to capital markets that small or rural local governments would otherwise not reach.

Gill described recent activity levels and the statutory cap’s history: the statute established limits decades ago, was $250 million when enacted in 1983 and was raised to $500 million in 2007; Gill said MFFA issued roughly $380 million of new money in 2022 and had about $1.2 billion of projects in its pipeline that could be staged across biennia. He told the committee, “We need to raise that cap.”

On fiscal impact, Gill said the fiscal note projects a return to the general fund (he cited a projected figure for the first year in the fiscal note) but emphasized the projection’s sensitivity to market conditions. Committee members asked for the MFFA’s most recent annual report; Gill agreed to send recent reports to the committee.

Representative Schomer closed the hearing by urging a “do pass.” The committee recorded no final vote in the hearing record; the bill’s next steps were not decided in the hearing.

Ending: The committee closed the SB 104 hearing without recording a committee vote and proceeded to the next item on the agenda.","A hearing on Senate Bill 104 focused on raising the statutory cap on the state’s conduit bonding authority (MFFA) to allow larger and more frequent bond issuances; sponsor and the facility finance authority said the program is self‑supporting and can generate modest general fund revenue via a statutory fee.","actionData","errors"]

Article not found

Hearing on HB 831 would raise elderly homeowner/renter credit and expand eligibility, sponsor says it adds about 3,300 recipients

Appropriations hears bill to remove $100,000 premium tax cap for series captive insurers

Committee hears bill to raise MFFA bonding cap, sponsor urges ‘due pass’