Montana Code 82-4-367. Long-term or perpetual water treatment permanent trust fund
82-4-367. Long-term or perpetual water treatment permanent trust fund. (1) There is established a fund of the permanent fund type to pay exclusively for the cost to the state of long-term or perpetual water treatment at the Zortman and Landusky mine sites.
Terms Used In Montana Code 82-4-367
- Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
- Board: means the board of environmental review provided for in 2-15-3502. See Montana Code 82-4-303
- State: when applied to the different parts of the United States, includes the District of Columbia and the territories. See Montana Code 1-1-201
(2)The fund is financed with:
(a)funds transferred from the orphan share account pursuant to 75-10-743; and
(b)other sources of funding that the legislature or congress may from time to time provide.
(3)The fund must be invested by the board of investments pursuant to Title 17, chapter 6, part 2, and the earnings from the investment must be credited to the principal of the fund until the year 2018.
(4)The annual earnings on the fund for the year 2018 and for each succeeding year may be appropriated for the purposes of subsection (1).
(5)The principal of the fund must remain inviolate unless appropriated by a vote of two-thirds of the members of each house of the legislature. An appropriation of the principal may only be made for payment of the costs of long-term or perpetual water treatment at the Zortman and Landusky mine sites.