SB 558 - Montana Electric and Gas Authority Act - Montana Key Vote


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Title: Montana Electric and Gas Authority Act

Vote Smart's Synopsis:

Vote to pass a bill to create the Montana Electric and Gas Authority.


-Authorizes the authority to engage in activities necessary to maintaining an adequate and efficient supply of natural gas and electricity, including acquiring ownership of fuel supplies and facilities located within or outside of the state [sec.6(1)]. -Authorizes the authority to issue negotiable bonds [sec.8]. -Allows the legislature to make appropriations to the authority for the acquisition of the stock or assets of a public utility, which are to be treated as an advance to the authority and repaid as mutually agreed [sec.22]. -Sets tax classes for property owned by the authority [sec.23-25]. -Establishes that any electric transmission lines and facilities owned by the authority with a capacity of less than 500 kilovolts are not subject to taxation [sec.27(1)(b)].