By Keele Smith
Legislative News Service
University of Montana School of Journalism
On Thursday, Montana lawmakers will discuss two bills to revise tax laws in the state.
One big issue this session has been the business equipment tax and on Thursday, lawmakers will look at one of the two competing plans to reduce the tax.
Senate Bill 96 would lower the tax for less than 100 businesses in Montana by allowing them to pay a property tax rate of 1.5 percent on up to $10 million of equipment.
Businesses currently pay that rate on the first $3 million of equipment and 3 percent on anything above that.
Republican Sen. Bruce Tutvedt of Kalispell says his bill would help mid-sized businesses and encourage them to stay in Montana.
“It’s those kind of companies that are providing jobs that have high capital investments in machines to add to productivity.”
The bill passed in the Senate in February.
And, a Senate committee will consider a bill that would cut income taxes for married couples with different incomes.