UNAPPROVED DRAFT BILL -- Subject to Change Without Notice!
BILL NO.
INTRODUCED BY
(Primary Sponsor)
A BILL FOR AN ACT ENTITLED: "AN ACT PROVIDING THAT THE EARNINGS ON FUTURE DEPOSITS TO THE COAL TAX TRUST FUND BE USED TO SUPPORT ELEMENTARY AND SECONDARY EDUCATION; AND SUBMITTING TO THE QUALIFIED ELECTORS OF MONTANA AN AMENDMENT TO ARTICLE IX, SECTION 5, OF THE MONTANA CONSTITUTION."
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MONTANA:
Section 1. Article IX, section 5, of The Constitution of the State of Montana is amended to read:
"Section 5. Severance tax on coal -- trust fund. The legislature shall dedicate not less than one-fourth (1/4) fifty percent
(50%) of the coal severance tax to a trust fund, the interest and income from which may be appropriated. The principal of
the trust shall forever remain inviolate unless appropriated by vote of three-fourths (3/4) of the members of each house of
the legislature. After December 31, 1979, at least fifty percent (50%) of the severance tax shall be dedicated to the trust
fund. Earning on deposits made to the trust fund after July 1, 2000, must be appropriated by the legislature as a portion of
the state's share of the cost of the basic elementary and secondary school system."
NEW SECTION. Section 2. Submission to electorate. This amendment shall be submitted to the qualified electors of Montana at the general election to be held in November 2000 by printing on the ballot the full title of this act and the following:
[] FOR using the earnings on future deposits to the coal tax trust fund to support schools.
[] AGAINST using the earnings on future deposits to the coal tax trust fund to support schools.
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Latest Version of LC 1408 (LC1408.01)
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Status of this Bill
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