17-5-1311. State's volume cap and reservations -- department to adopt rule. (1) For each calendar year, the state's volume cap is the amount specified by the department pursuant to subsection (2). In each calendar year, subject to the provisions established by 17-5-1312 and 17-5-1313, 70% of the state's volume cap is the state portion and 30% is the local portion.
(2) The department shall adopt a rule for the state's volume cap specifying the maximum dollar value of cap bonds that may be issued in a calendar year. The rule adopted by the department must consider the volume cap.
History: En. Sec. 3, Ch. 190, L. 1987; amd. Sec. 2, Ch. 32, L. 2001.
Structure Montana Code Annotated
Part 13. Montana Unified Volume Cap Bond Allocation Plan Act
17-5-1303. through 17-5-1310 reserved
17-5-1311. State's volume cap and reservations -- department to adopt rule
17-5-1312. Allocation to state issuers
17-5-1313. Allocation to local issuers
17-5-1314. Authorization by the governor
17-5-1315. Carryforward elections
17-5-1316. Allocations by the department
17-5-1317. Notification of approval or disapproval by the department
17-5-1318. Terms of allocations
17-5-1319. and 17-5-1320 reserved
17-5-1321. Allocations not transferable
17-5-1325. Reassignment of bonding authority for agricultural purposes -- contingency