Montana General Fund to Receive More Tax Money Than Originally Expected
An updated outlook by Montana Legislative Services Fiscal Division estimates that the Montana general fund will be receiving more tax money than was originally predicted during the 2012-2013 legislative session.
"The main story is that there isn't much of a difference," said Montana Legislative Fiscal Analyst Cynthia Holliman. "We are just doing a very informal update to revenue estimates that came out during the legislative session. We are currently looking at a potential increase of $3.9 million in the general fund, which is very small if you look at our overall general fund budget."
Some of that money came through higher than expected gas and oil revenues and personal income tax receipts, but the big change was the sale of Montana Blue Cross Blue Shield to an Illinois company.
"Blue Cross Blue Shield is non-profit," explained Holliman. "With this buyout, part of the deal that was reached is that while they were tax exempt before, they will no longer be tax exempt."
Holliman says the extra revenues will not have much of an effect on any of the laws or considerations made by the 2013 legislature.