20-9-622. Guarantee account. (1) There is a guarantee account in the state special revenue fund. The guarantee account is intended to:
(a) stabilize the long-term growth of the permanent fund; and
(b) maintain a constant and increasing distributable revenue stream. All realized capital gains and all distributable revenue must be deposited in the guarantee account. The guarantee account is statutorily appropriated, as provided in 17-7-502, for distribution to school districts through school equalization aid as provided in 20-9-343.
(2) Any excess interest and income revenue deposited in the guarantee account for distribution under this section must be transferred to the school major maintenance aid account provided for in 20-9-525.
History: En. Sec. 3, Ch. 418, L. 2001; amd. Sec. 9(2), Ch. 554, L. 2001; amd. Sec. 4, Ch. 10, Sp. L. August 2002; amd. Sec. 1, Ch. 291, L. 2003; amd. Sec. 20, Ch. 1, Sp. L. May 2007; amd. Sec. 17, Ch. 377, L. 2009; amd. Sec. 6, Ch. 17, L. 2013; amd. Sec. 32, Ch. 400, L. 2013; amd. Secs. 13, 23, Ch. 336, L. 2017.
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