In an emailed statement, Gianforte said that “by attracting entrepreneurs to our state and keeping existing ones in Montana, they’ll thrive, grow, and create greater opportunities for Montanans.” One of the new laws will exempt qualifying businesses from paying capital gains tax on the sale of employee-owned stock if they move to Montana and hire locals. Another will simplify the corporate income tax system to tax out-of-state digital retailers and reduce the tax burden on in-state businesses. Democrats voted against the tax proposals, saying they benefit wealthy Montanans instead of those who need financial help the most.
The broadband buildout funding received bipartisan support, but Democrats opposed another bill on Gianforte’s desk that gives businesses tax cuts for laying cable for high-speed connections. In an emailed statement, Gianforte said it’s a “historic investment to close the digital divide.” According to the Federal Communications Commission, about one in three Montanans don’t have access to broadband, which is three times the national average.
In addition to the broadband bill, Montana businesses old and new will see a change in how they pay corporate taxes under two new laws signed by Republican Gov. Greg Gianforte. The policy creates a grant program under the state Department of Commerce to fund broadband projects around Montana. It’ll use $275 million of the money Montana received from federal government stimulus.
SB 134Sen. Jason Small (R-Busby)Revise board of investment loans for coal-fired generation remediation SB 147Sen. Mary McNally (D-Billings)Establish commercial property assessed capital enhancements program SB 114Sen. Jason Ellsworth (R-Hamilton)Revise the homestead exemption
SB 87Sen. Duane Ankney (R-Colstrip)Revise coal-fired power/water-right owner legal responsibilities The following bills, signed by Gianforte, were transmitted to the Secretary of State Tuesday afternoon:
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