reglab/housing_qa huggingface dataset:
MT Code § 20-9-367 (2021)
2021 Montana Code Annotated|Title 20. Education|Chapter 9. Finance|Part 3. Funding of Basic System of Quality Public Schools|20-9-367. Eligibility to receive guaranteed tax base aid or state debt service assistance for school facilities

  20-9-367. Eligibility to receive guaranteed tax base aid or state debt service assistance for school facilities. (1) If the district guaranteed tax base ratio of an elementary or high school district is less than the corresponding statewide elementary or high school guaranteed tax base ratio, the district may receive guaranteed tax base aid based on the number of mills levied in the district in support of up to 35.3% of the basic entitlement, up to 35.3% of the total per-ANB entitlement, and up to 40% of the special education allowable cost payment budgeted within the general fund budget.   (2) If the county retirement mill value per elementary ANB or the county retirement mill value per high school ANB is less than the corresponding statewide mill value per elementary ANB or high school ANB, the county may receive guaranteed tax base aid based on the number of mills levied in the county in support of the retirement fund budgets of the respective elementary or high school districts in the county.   (3) For the purposes of 20-9-370 and 20-9-371, if the district mill value per elementary ANB or the district mill value per high school ANB is less than the corresponding statewide mill value per elementary ANB or statewide mill value per high school ANB, the district may receive debt service assistance in the form of a state advance or reimbursement for school facilities in support of the debt service fund.   History: En. Sec. 61, Ch. 11, Sp. L. June 1989; amd. Sec. 8, Ch. 711, L. 1991; amd. Sec. 32, Ch. 767, L. 1991; amd. Sec. 31, Ch. 633, L. 1993; amd. Sec. 2, Ch. 586, L. 1995; amd. Secs. 4, 5, Ch. 211, L. 1999; amd. Sec. 9, Ch. 11, Sp. L. May 2000; amd. Sec. 5, Ch. 404, L. 2017.
MT Code § 20-9-368 (2021)
2021 Montana Code Annotated|Title 20. Education|Chapter 9. Finance|Part 3. Funding of Basic System of Quality Public Schools|20-9-368. Amount of guaranteed tax base aid

  20-9-368. Amount of guaranteed tax base aid. (1) The amount of guaranteed tax base aid per ANB that a county may receive in support of the retirement fund budgets of the elementary school districts in the county is the difference between the county mill value per elementary ANB and the statewide mill value per elementary ANB, multiplied by the number of mills levied in support of the retirement fund budgets for the elementary districts in the county.   (2) The amount of guaranteed tax base aid per ANB that a county may receive in support of the retirement fund budgets of the high school districts in the county is the difference between the county mill value per high school ANB and the statewide mill value per high school ANB, multiplied by the number of mills levied in support of the retirement fund budgets for the high school districts in the county.   (3) The amount of guaranteed tax base aid that a district may receive in support of up to 35.3% of the basic entitlement, up to 35.3% of the total per-ANB entitlement budgeted within the general fund budget, and up to 40% of the special education payment is calculated in the following manner:   (a) multiply the sum of the district's prior year GTBA budget area by the corresponding statewide guaranteed tax base ratio;   (b) subtract the prior year taxable valuation of the district from the product obtained in subsection (3)(a); and   (c) divide the remainder by 1,000 to determine the equivalent to the dollar amount of guaranteed tax base aid for each mill levied.   (4) Guaranteed tax base aid provided to any county or district under this section is earmarked to finance the fund or portion of the fund for which it is provided. If a county or district receives more guaranteed tax base aid than it is entitled to, the excess must be returned to the state as required by 20-9-344.   History: En. Sec. 62, Ch. 11, Sp. L. June 1989; amd. Sec. 9, Ch. 711, L. 1991; amd. Sec. 33, Ch. 767, L. 1991; amd. Sec. 32, Ch. 633, L. 1993; amd. Secs. 6, 7, Ch. 211, L. 1999; amd. Sec. 10, Ch. 11, Sp. L. May 2000; amd. Sec. 3, Ch. 8, L. 2015.
MT Code § 20-9-369 (2021)
2021 Montana Code Annotated|Title 20. Education|Chapter 9. Finance|Part 3. Funding of Basic System of Quality Public Schools|20-9-369. Duties of superintendent of public instruction and department of revenue

  20-9-369. Duties of superintendent of public instruction and department of revenue. (1) The superintendent of public instruction shall administer the distribution of guaranteed tax base aid by:   (a) providing each school district and county superintendent, by March 1 of each year, with the preliminary statewide and district guaranteed tax base ratios and, by May 1 of each year, with the final statewide and district guaranteed tax base ratios, for use in calculating the guaranteed tax base aid available for the ensuing school fiscal year;   (b) providing each school district and county superintendent, by March 1 of each year, with the preliminary statewide, county, and district mill values per ANB and, by May 1 of each year, with the final statewide, county, and district mill values per ANB, for use in calculating the guaranteed tax base aid and state advance and reimbursement for school facilities available to counties and districts for the ensuing school fiscal year;   (c) requiring each county and district that qualifies and applies for guaranteed tax base aid to report to the county superintendent all budget and accounting information required to administer the guaranteed tax base aid;   (d) keeping a record of the complete data concerning appropriations available for guaranteed tax base aid and the entitlements for the aid of the counties and districts that qualify;   (e) distributing the guaranteed tax base aid entitlement to each qualified county or district from the appropriations for that purpose.   (2) The superintendent shall adopt rules necessary to implement 20-9-366 through 20-9-369.   (3) The department of revenue shall provide the superintendent of public instruction by December 1 of each year a final determination of the taxable value of property within each school district and county of the state reported to the department of revenue based on information delivered to the county clerk and recorder as required in 15-10-305.   (4) The superintendent of public instruction shall calculate the district and statewide guaranteed tax base ratios by applying the prior year's direct state aid payment.   History: En. Sec. 63, Ch. 11, Sp. L. June 1989; amd. Sec. 2, Ch. 790, L. 1991; amd. Sec. 34, Ch. 633, L. 1993; amd. Sec. 3, Ch. 586, L. 1995.
MT Code § 20-9-370 (2021)
2021 Montana Code Annotated|Title 20. Education|Chapter 9. Finance|Part 3. Funding of Basic System of Quality Public Schools|20-9-370. Definitions

  20-9-370. Definitions. As used in this title, unless the context clearly indicates otherwise, the following definitions apply:   (1) "School facility entitlement" means:   (a) $300 per ANB for an elementary school district;   (b) $450 per ANB for a high school district; or   (c) $370 per ANB for an approved and accredited junior high school or middle school.   (2) "State advance for school facilities" is the amount of state equalization aid distributed to an eligible district to pay the debt service obligation for a bond in the first school fiscal year in which a debt service payment is due for the bond.   (3) "State reimbursement for school facilities" means the amount of state equalization aid distributed to a district that:   (a) has a district mill value per ANB that is less than the corresponding facility guaranteed mill value per ANB; and   (b) has a debt service obligation in the ensuing school year on bonds.   (4) "Total school facility entitlement" means the school facility entitlement times the total ANB for the district.   History: En. Sec. 38, Ch. 633, L. 1993; amd. Sec. 38, Ch. 18, L. 1995; amd. Sec. 4, Ch. 586, L. 1995; amd. Sec. 5, Ch. 550, L. 2003.
MT Code § 20-9-371 (2021)
2021 Montana Code Annotated|Title 20. Education|Chapter 9. Finance|Part 3. Funding of Basic System of Quality Public Schools|20-9-371. Calculation and uses of school facility entitlement amount

  20-9-371. Calculation and uses of school facility entitlement amount. (1) The state reimbursement for school facilities for a district is the percentage determined in 20-9-346(2)(b) times (1-(district mill value per ANB/facility guaranteed mill value per ANB)) times the lesser of the total school facility entitlement calculated under the provisions of 20-9-370 or the district's current year debt service obligations on general obligation bonds that qualify under the provisions of 20-9-370(3).   (2) The state advance for school facilities for a district is determined as follows:   (a) Calculate the percentage of the district's debt service payment that will be advanced by the state using the district ANB, the district mill value and the statewide mill value for the current year, and the percentage used to determine the proportionate share of state reimbursement for school facilities in the prior year.   (b) Multiply the percentage determined in subsection (2)(a) by the lesser of the total school facility entitlement calculated under the provisions of 20-9-370 or the district's current year debt service obligation for general obligation bonds to which the state advance applies.   (3) Within the available appropriation, the superintendent of public instruction shall first distribute to eligible districts the state advance for school facilities. From the remaining appropriation, the superintendent shall distribute to eligible districts the state reimbursement for school facilities.   (4) The trustees of a district may apply the state reimbursement for school facilities to reduce the levy requirement in the ensuing school fiscal year for all outstanding bonded indebtedness on general obligation bonds sold in the debt service fund of the district. The trustees may apply the state advance for school facilities to reduce the levy requirement in the current school fiscal year for debt service payments on general obligation bonds to which the state advance for school facilities applies.   History: En. Sec. 39, Ch. 633, L. 1993; amd. Sec. 5, Ch. 586, L. 1995; amd. Sec. 1, Ch. 492, L. 2003; amd. Sec. 6, Ch. 550, L. 2003.
MT Code § 20-9-372 (2021)
2021 Montana Code Annotated|Title 20. Education|Chapter 9. Finance|Part 3. Funding of Basic System of Quality Public Schools|20-9-372. through 20-9-374 reserved

  20-9-372 through 20-9-374 reserved.
MT Code § 20-9-375 (2021)
2021 Montana Code Annotated|Title 20. Education|Chapter 9. Finance|Part 3. Funding of Basic System of Quality Public Schools|20-9-375. Repealed

  20-9-375. Repealed. Sec. 22, Ch. 462, L. 2005.   History: En. Sec. 3, Ch. 437, L. 1997; amd. Sec. 1, Ch. 474, L. 2001.
MT Code § 20-9-376 (2021)
2021 Montana Code Annotated|Title 20. Education|Chapter 9. Finance|Part 3. Funding of Basic System of Quality Public Schools|20-9-376. Purpose of increased funding beyond inflation

  20-9-376. Purpose of increased funding beyond inflation. The increases in state funding of BASE aid, as defined in 20-9-306, that a school district uses to increase its previous year's adopted general fund budget by an amount in excess of the inflation calculated in compliance with 20-9-326 are for the purpose of assisting school districts in meeting costs of implementing the changes to the Administrative Rules of Montana adopted by the Montana board of public education during fiscal years 2012 and 2013 and to continue to enhance efforts at improving academic achievement for students enrolled in Montana's public schools.   History: En. Sec. 33, Ch. 400, L. 2013.
MT Code § 20-9-377 (2021)
2021 Montana Code Annotated|Title 20. Education|Chapter 9. Finance|Part 3. Funding of Basic System of Quality Public Schools|20-9-377. through 20-9-379 reserved

  20-9-377 through 20-9-379 reserved.
MT Code § 20-9-380 (2021)
2021 Montana Code Annotated|Title 20. Education|Chapter 9. Finance|Part 3. Funding of Basic System of Quality Public Schools|20-9-380. School facilities fund -- school major maintenance aid special revenue account

  20-9-380. School facilities fund -- school major maintenance aid special revenue account. (1) There is a school facilities fund administered by the department of administration. Pursuant to 17-5-703, a percentage of coal severance taxes received by the state must be deposited into this fund. Earnings not transferred to the school major maintenance aid account as provided in subsection (2) must be retained in the school facilities fund.   (2) The school major maintenance aid account established in 20-9-525 receives earnings from the school facilities fund as provided in 17-5-703.   (3) A school district that receives funds from the school major maintenance aid account shall, within 30 days of receiving the funds, file with the office of the superintendent of public instruction a document acknowledging it has received funds from the coal severance tax trust fund.   History: En. Sec. 1, Ch. 377, L. 2017; amd. Sec. 3, Ch. 259, L. 2017.
MT Code § 20-9-401 (2021)
2021 Montana Code Annotated|Title 20. Education|Chapter 9. Finance|Part 4. School Bonds|20-9-401. Applicable laws for school district bonding

  20-9-401. Applicable laws for school district bonding. (1) The school district bonding provisions of this title and all applicable laws of the state shall govern:   (a) the issuance, refunding, and sale of school district bonds;   (b) the levying of taxes for payment of the principal and interest on school district bonds; and   (c) the redemption of bonds.   (2) Should there be a conflict between the provisions of this title and the provisions of any other law of the state, the provisions of this title shall govern.   History: En. 75-7101 by Sec. 302, Ch. 5, L. 1971; R.C.M. 1947, 75-7101.
MT Code § 20-9-402 (2021)
2021 Montana Code Annotated|Title 20. Education|Chapter 9. Finance|Part 4. School Bonds|20-9-402. Definition of school district for bonding purposes

  20-9-402. Definition of school district for bonding purposes. For the purposes of indebting an elementary district, a high school district, or a community college district by the issuance of bonds under the provisions of this title, the term "school district" means any elementary district, high school district, county high school district, or community college district.   History: En. 75-7102 by Sec. 303, Ch. 5, L. 1971; amd. Sec. 1, Ch. 419, L. 1973; R.C.M. 1947, 75-7102; amd. Sec. 19, Ch. 219, L. 1997.
MT Code § 20-9-403 (2021)
2021 Montana Code Annotated|Title 20. Education|Chapter 9. Finance|Part 4. School Bonds|20-9-403. Bond issues for certain purposes

  20-9-403. Bond issues for certain purposes. (1) The trustees of a school district may issue and negotiate general obligation bonds, oil and natural gas revenue bonds, or impact aid bonds of the school district for the purpose of:   (a) building, altering, repairing, buying, furnishing, equipping, purchasing lands for, or obtaining a water supply for a school, teacherage, dormitory, gymnasium, other building, or combination of buildings for school purposes;   (b) buying a school bus or buses;   (c) providing the necessary money to redeem matured bonds, maturing bonds, or coupons appurtenant to bonds when there is not sufficient money to redeem them;   (d) providing the necessary money to redeem optional or redeemable bonds when it is for the best interest of the school district to issue refunding bonds;   (e) funding a judgment against the district, including the repayment of tax protests lost by the district; or   (f) funding a debt service reserve account that may be required for oil and natural gas revenue bonds or impact aid revenue bonds.   (2) Money realized from the sale of bonds issued on the credit of a high school district may not be used for any of the purposes listed in subsection (1) in an elementary school district, and the money may be used for any of the purposes listed in subsection (1) for a junior high school but only to the extent that the 9th grade of the high school is served.   (3) If applicable, the trustees shall specify whether the bonds are qualified school construction bonds as described in 17-5-116(1) or tax credit bonds as provided in 17-5-117.   History: En. 75-7103 by Sec. 304, Ch. 5, L. 1971; amd. Sec. 1, Ch. 76, L. 1973; amd. Sec. 1, Ch. 189, L. 1973; R.C.M. 1947, 75-7103; amd. Sec. 23, Ch. 658, L. 1987; amd. Sec. 8, Ch. 213, L. 1989; amd. Sec. 2, Ch. 492, L. 2003; amd. Sec. 21, Ch. 489, L. 2009; amd. Sec. 16, Ch. 400, L. 2013.
MT Code § 20-9-404 (2021)
2021 Montana Code Annotated|Title 20. Education|Chapter 9. Finance|Part 4. School Bonds|20-9-404. Contracts and bonds for joint construction

  20-9-404. Contracts and bonds for joint construction. (1) The trustees of a school district may enter into a contract with the trustees of any school district within the county, with any school district in an adjoining county, with the governing body of another political subdivision within the county in which the school district is located, or with the governing body of a political subdivision of a county adjoining the school district to provide for the joint construction of a facility upon terms and conditions mutually agreed upon between the districts.   (2) The trustees of any district executing a contract in accordance with this section may, subject to 15-10-420, levy taxes and issue bonds for the purpose of constructing the facilities authorized by this section.   History: En. 75-7103.1 by Sec. 1, Ch. 371, L. 1975; R.C.M. 1947, 75-7103.1; amd. Sec. 2, Ch. 397, L. 1997; amd. Sec. 1, Ch. 166, L. 1999; amd. Sec. 114, Ch. 584, L. 1999.
MT Code § 20-9-405 (2021)
2021 Montana Code Annotated|Title 20. Education|Chapter 9. Finance|Part 4. School Bonds|20-9-405. Proportional joint ownership -- disposition of money

  20-9-405. Proportional joint ownership -- disposition of money. The facility constructed under 20-9-404 must be jointly owned by the school districts or other political subdivisions contributing to its construction in proportion to the contribution of each political subdivision. The sale or other disposition of a district's interest in the facility must be made in accordance with 20-6-604. Money received from the sale or disposition of a district's interest in a facility must be credited to the debt service fund, building fund, general fund, or any combination of these three funds, at the discretion of the trustees.   History: En. 75-7103.2 by Sec. 2, Ch. 371, L. 1975; R.C.M. 1947, 75-7103.2; amd. Sec. 3, Ch. 397, L. 1997; amd. Sec. 2, Ch. 166, L. 1999.
MT Code § 20-9-408 (2021)
2021 Montana Code Annotated|Title 20. Education|Chapter 9. Finance|Part 4. School Bonds|20-9-408. Definition of forms of bonds

  20-9-408. Definition of forms of bonds. As used in this part, the following definitions apply:   (1) "Amortization bond" means that form of bond on which a part of the principal is required to be paid each time that interest becomes due and payable. The part payment of principal increases with each following installment in the same amount that the interest payment decreases, so that the combined amount payable on principal and interest is the same on each payment date. However, the payment on the initial interest payment date may be less or greater than the amount of other payments on the bond, reflecting the payment of interest only or the payment of interest for a period different from that between other interest payment dates. The final payment may vary from prior payments in amount as a result of rounding prior payments.   (2) "General obligation bonds" means bonds that pledge the full faith and credit and the taxing power of a school district.   (3) "Impact aid revenue bonds" means bonds that pledge and are payable solely from federal impact aid basic support payments received and deposited to the credit of the fund established in 20-9-514.   (4) "Oil and natural gas revenue bonds" means bonds that pledge and are payable from a first lien on oil and natural gas production taxes received by a school district pursuant to 20-9-310. Oil and natural gas revenue bonds to which a tax deficiency is pledged are not considered general obligation bonds that are eligible to receive guaranteed tax base aid pursuant to 20-9-367 but are to be considered in determining the debt limit of a school district for the purposes of 20-9-406.   (5) "Serial bonds" means a bond issue payable in annual installments of principal commencing not more than 2 years from the date of issue, any one installment consisting of one or more bonds, with the principal amount of bonds maturing or subject to mandatory sinking fund redemption in each installment, commencing with the installment payable in the fourth year after the date of issue, not exceeding three times the principal amount of the bonds payable in the immediately preceding installment.   History: En. 75-7105 by Sec. 306, Ch. 5, L. 1971; R.C.M. 1947, 75-7105; amd. Sec. 7, Ch. 631, L. 1983; amd. Sec. 7, Ch. 256, L. 1989; amd. Sec. 40, Ch. 423, L. 1995; amd. Sec. 4, Ch. 492, L. 2003; amd. Sec. 18, Ch. 451, L. 2005; amd. Sec. 24, Ch. 44, L. 2007; amd. Sec. 18, Ch. 400, L. 2013.
MT Code § 20-9-409 (2021)
2021 Montana Code Annotated|Title 20. Education|Chapter 9. Finance|Part 4. School Bonds|20-9-409. Repealed

  20-9-409. Repealed. Sec. 52, Ch. 423, L. 1995.   History: En. 75-7106 by Sec. 307, Ch. 5, L. 1971; R.C.M. 1947, 75-7106.
MT Code § 20-9-410 (2021)
2021 Montana Code Annotated|Title 20. Education|Chapter 9. Finance|Part 4. School Bonds|20-9-410. Limitation of term and interest -- timing for redemption

  20-9-410. Limitation of term and interest -- timing for redemption. (1) School district bonds may not be issued for a term longer than 30 years, except that bonds issued to refund or redeem outstanding bonds may not be issued for a term longer than 10 years unless the unexpired term of the bonds to be refunded or redeemed is in excess of 10 years, in which case the refunding or redeeming bonds may be issued for the unexpired term. Other than refunding or redeeming bonds, all bonds issued for a longer term than 5 years must be redeemable at the option of the school district on any interest payment date after one-half of the term for which they were issued has expired, and the redemption option must be stated on the face of the bonds. The interest must be as provided under 17-5-102 and must be payable semiannually.   (2) For purposes of this section, the term of a bond issue commences on July 1 of the fiscal year in which the school district first levies taxes to pay the principal and interest on the bonds.   History: En. 75-7107 by Sec. 308, Ch. 5, L. 1971; amd. Sec. 7, Ch. 234, L. 1971; amd. Sec. 3, Ch. 284, L. 1973; R.C.M. 1947, 75-7107; amd. Sec. 11, Ch. 500, L. 1981; amd. Sec. 1, Ch. 11, L. 1983; amd. Sec. 71, Ch. 370, L. 1987; amd. Sec. 8, Ch. 256, L. 1989; amd. Sec. 19, Ch. 451, L. 2005; amd. Sec. 1, Ch. 337, L. 2017; amd. Sec. 1, Ch. 137, L. 2019.
MT Code § 20-9-411 (2021)
2021 Montana Code Annotated|Title 20. Education|Chapter 9. Finance|Part 4. School Bonds|20-9-411. Dates of issue and payments

  20-9-411. Dates of issue and payments. In order that the dates of payment of installments on school district bond issues may coincide as nearly as possible with the largest monthly tax collections, all school district bonds shall preferably bear a date of some day in June or December. For this reason, the bonds may be dated back not more than 5 months from the time of the actual sale, but no interest shall be charged on these bonds before they have been delivered to the purchaser and payment has been made by the purchaser. Interest accrued on such bonds according to their terms at the time of delivery shall either be refunded by the purchaser or deducted from the first interest payments. The failure to date such bonds in June or December shall not affect their validity.   History: En. 75-7108 by Sec. 309, Ch. 5, L. 1971; R.C.M. 1947, 75-7108.