20-9-620. Definition. (1) As used in 20-9-621, 20-9-622, and this section, "distributable revenue" means, except for that portion of revenue described in 20-9-516(2)(a) and 77-1-109, 95% of all revenue from the management of school trust lands and the permanent fund, including timber sale proceeds, lease fees, interest, dividends, and net realized capital gains.
(2) The term does not include mineral royalties or land sale proceeds that are deposited directly in the permanent fund or net unrealized capital gains that remain in the permanent fund until realized.
History: En. Sec. 1, Ch. 418, L. 2001; amd. Sec. 9(1), Ch. 554, L. 2001; amd. Sec. 3, Ch. 3, Sp. L. August 2002; amd. Sec. 16, Ch. 377, L. 2009; amd. Sec. 5, Ch. 465, L. 2009.
Structure Montana Code Annotated
Part 6. Public School Fund and Grants to Schools
20-9-602. Title to farm mortgage lands vested in state and transfers validated
20-9-603. Acceptance and expenditure of federal moneys for state
20-9-604. Gifts, legacies, devises, and administration of endowment fund
20-9-605. through 20-9-614 reserved
20-9-615. Voluntary rural residential impact payments
20-9-616. through 20-9-619 reserved
20-9-623. through 20-9-629 reserved
20-9-633. and 20-9-634 reserved
20-9-635. Natural resource development K-12 school facilities payment
20-9-636. and 20-9-637 reserved
20-9-638. Coal-fired generating unit closure mitigation block grant