Mont. Admin. r. 42.19.1401

Current through Register Vol. 23, December 6, 2024

Rule 42.19.1401 - DEFINITIONS

The following definitions apply to this subchapter:

(1) "Levy district" means a geographically distinct area where all of the properties are subject to the same combination of taxing jurisdiction's mill levies. Levy districts are created for administrative purposes and do not have any taxing authority.

(2) "Targeted economic development district (TEDD)" means a district created pursuant to 7-15-4279, MCA, that contains a provision for tax increment financing as provided for in 7-15-4282, MCA.

(3) "Tax increment financing district (TIFD)" means the area within the external boundaries of an urban renewal district (URD) or a targeted economic development district (TEDD) that:

(a) has been legally created pursuant to the provisions of 7-15-4282, MCA; and

(b) contains a provision for the use of tax increment financing.

(4) "Taxing jurisdiction" means a government entity authorized to impose tax on property. A taxing jurisdiction may include the properties in one or more levy districts.

(5) "Urban renewal district (URD)" means a district created pursuant to 7-15-4202 through 7-15-4218 and 7-15-4280 through 7-15-4284, MCA, that contains a provision for tax increment financing as provided for in 7-15-4282, MCA.

(6) "Value-adding economic projects" means projects that, through the employment of knowledge or labor, add value to industrial or technological products, processes, or export services resulting in the creation of new wealth.

(a) Value-adding economic projects include projects:

(i) that mechanically or chemically transform materials or substances into new products in the manner defined as manufacturing in the North American Industry Classification System Manual prepared by the United States Office of Management and Budget; and

(ii) that, through a technological process, transform materials, substances, or information into new products.

(b) Value-adding economic projects do not include projects undertaken by service-based businesses or industries including, but not limited to, hotels, restaurants, automobile dealerships, and other similar businesses or industries.

(c) Nothing in this section precludes service-based businesses or industries from being located within a targeted economic development district (TEDD), provided the primary purpose of the TEDD is the development of infrastructure to encourage the location and retention of value-added economic projects.

Mont. Admin. r. 42.19.1401

NEW, 2008 MAR p. 1490, Eff. 7/18/08; AMD, 2014 MAR p. 1104, Eff. 5/23/14; AMD, 2015 MAR p. 1281, Eff. 8/28/2015; AMD, 2016 MAR p. 1968, Eff. 10/29/2016; AMD, 2019 MAR p. 345, Eff. 3/30/2019

AUTH: 15-1-201, MCA; IMP: 7-15-4202, 7-15-4203, 7-15-4204, 7-15-4205, 7-15-4206, 7-15-4207, 7-15-4208, 7-15-4209, 7-15-4210, 7-15-4211, 7-15-4212, 7-15-4213, 7-15-4214, 7-15-4215, 7-15-4216, 7-15-4217, 7-15-4218, 7-15-4278, 7-15-4279, 7-15-4280, 7-15-4281, 7-15-4282, 7-15-4283, 7-15-4284, 7-15-4285, MCA