Montana Code 90-5-112. Economic development levy
90-5-112. Economic development levy. (1) Subject to 15-10-420, the governing body of a city, county, or town is authorized to levy a tax upon the taxable value of all taxable property in the city, county, or town for the purpose of economic development. The governing body may:
Terms Used In Montana Code 90-5-112
- Contract: A legal written agreement that becomes binding when signed.
- Governing body: means the board or body in which the general legislative powers of the municipality or county are vested. See Montana Code 90-5-101
- Property: means real and personal property. See Montana Code 1-1-205
(a)submit the question of the mill levy to the qualified voters as provided in 15-10-425; or
(b)approve the mill levy by a vote of the governing body.
(2)Funds derived from this levy may be used for purchasing land for industrial parks, constructing buildings to house manufacturing and processing operations, conducting preliminary feasibility studies, promoting economic development opportunities in a particular area, and other activities generally associated with economic development. These funds may not be used to directly assist an industry’s operations by loan or grant or to pay the salary or salary supplements of government employees.
(3)The governing body of the county, city, or town may use the funds derived from this levy to contract with local development companies and other associations or organizations capable of implementing the economic development function.