Lawmakers are considering a bill (HB154) that would have an interim legislative committee review 25 individual income tax breaks. That panel would then recommend to future legislatures whether to continue those tax breaks.
House Bill 154 would task the Revenue and Transportation Committee with reviewing these tax credits. While they're primarily taken by individuals, some may be taken by corporate taxpayers.
Representative Roy Hollandsworth is the bill's sponsor. The Republican from Brady says the intent is to have lawmakers review the history of each tax break, and then decide if they still make sense for Montana.
"I don't expect a lot of these to be changed, and I expect the ones we're not using be dropped off."
He says it's one way future legislators can simplify Montana's tax code.
But opponents still rose in favor of keeping their individual tax breaks. This includes the elderly homeowner and renter tax credit, the capital gains tax credit, and various alternative energy tax breaks mentioned in the bill.
If future legislators were to sunset all 25 of the personal tax credits in this bill, projections suggest Montana could gain an additional $48 million in revenue.
The House Taxation Committee didn't take immediate action on House Bill 154.
