Legislative Update
 | Author:
Julie Dooling, House District 70 Representative
MT State Representative |
Legislative Update Julie Dooling, House District 70 Representative One month ago, we stood on the front steps of the Capitol with Governor Gianforte and celebrated the signing of a historic tax package. This tax package provides Montanans with the largest tax cut in state history.
The six bills that were signed into law will provide immediate tax rebates and also permanent long-term tax relief for many taxpayers and homeowners across Montana.
• HB 192 will provide Montana income taxpayers with rebates of up to $1250. The Department of Revenue will begin issuing Individual Income Tax Rebates in July 2023. All qualifying rebates will be issued prior to December 31, 2023.
• HB 222 will provide nearly $280 million in property tax relief. There will also be a $500 property tax rebate to Homeowners for their primary residence in 2023 and 2024. In order to receive the 2022 rebate, you must go online or file the paper form, which must be filed by October 1, 2023. The 2023 rebate process is the same but won’t open for claims until August 15, 2024.
• HB 212 increases the business equipment tax exemption to $1 million, which is great for our many small businesses in Montana.
• SB 121 lowered the income tax rate from 6.75% to 5.9%. This bill also triples the earned income tax credit.
• HB 221 simplifies Montana’s capital gains system – making it the 4th lowest in the Nation.
• SB 124 provides for the modernization of Montana’s corporate tax code providing for additional job creation and investment.
These 6 bills, dubbed the “six-pack”, were a priority for Governor Gianforte and the 68th Legislature. To find out more information about the rebates for which you may qualify, go check out the Department of Revenue website at: https://mtrevenue.gov/taxes/2023-montana-tax-rebates/#Taxable
I hope this information is helpful. Thank you for allowing me to be your Representative.
Julie Dooling
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