Table of Contents TITLE 20. EDUCATION CHAPTER 9. FINANCE Part 3. Funding of Basic System of Quality Public Schools

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20-9-302 — School isolation 20-9-303 — Nonisolated school BASE b... 20-9-305 — Proration and calculation... 20-9-306 — Definitions 20-9-308 — BASE budgets and maximum... 20-9-309 — Basic system of free qual... 20-9-310 — Oil and natural gas produ... 20-9-311 — Calculation of average nu... 1 20-9-313 — Circumstances under which... 20-9-314 — Procedures for determinin... 20-9-321 — Allowable cost payment fo... 20-9-323 — Ending fund balance limit... 20-9-325 — Data-for-achievement paym... 20-9-326 — Annual inflation-related... 20-9-327 — Quality educator payment 20-9-328 — At-risk student payment 20-9-329 — Indian education for all... 20-9-330 — American Indian achieveme... 20-9-331 — Basic county tax for elem... 20-9-332 — Fines and penalties proce... 20-9-333 — Basic county tax for high... 20-9-335 — Formula for apportionment... 20-9-341 — Definition of interest an... 20-9-342 — Deposit of interest and i... 20-9-343 — Definition of and revenue... 20-9-344 — Duties of board of public... 20-9-346 — Duties of superintendent... 20-9-347 — Distribution of BASE aid... 20-9-348 — Estimation of state equal... 20-9-351 — Funding of deficiency in... 20-9-353 — Additional financing for... 20-9-360 — State equalization aid le... 20-9-361 — County equalization reven... 20-9-366 — Definitions 20-9-367 — Eligibility to receive gu... 20-9-368 — Amount of guaranteed tax... 20-9-369 — Duties of superintendent... 20-9-370 — Definitions 20-9-371 — Calculation and uses of s... 20-9-376 — Purpose of increased fund...

Mont. Code Ann. § 20-9-341

(2015)

Definition of interest and income money

(1) Subject to deductions made under 77-1-109, as used in this title, the term "interest and income money" means the total of the following revenue, as provided for by Article X, section 5, of the 1972 Montana constitution:

(a) 95% of the interest received from the investment of the public school fund;

(b) 95% of the interest received from the investment of any other school funds held in trust by the state board of land commissioners;

(d) 95% of any other income derived from any other covenant affecting the use of state school lands.

(2) The remaining 5% of the revenue described in subsections (1)(a) through (1)(d) must be annually credited to the public school fund after any deductions made under 77-1-109.

Official Annotations archive.org, 2015 edition

History:

EnactedEn. 75-6907 by SectionSec. 257, ChapterCh. 5, Laws ofL. 1971

AmendedAmd. SectionSec. 9, ChapterCh. 137, Laws ofL. 1973

Revised Codes of MontanaR.C.M. 1947, 75-6907

AmendedAmd. SectionSec. 3, ChapterCh. 14, Special Session LawsSp. L. January 1992

AmendedAmd. SectionSec. 113, ChapterCh. 42, Laws ofL. 1997

AmendedAmd. SectionSec. 5, ChapterCh. 122, Laws ofL. 1999 (SB 48 - Swysgood, Chuck (R) SD 17)

AmendedAmd. SectionSec. 4, ChapterCh. 465, Laws ofL. 2009 (SB 65 - Hawks, Bob (D) SD 33)

Source text on leg.mt.gov