10.23.104 RETIREMENT LEVIES
(1) Net county retirement levy requirement for elementary and high school retirement funds is defined in ARM 10.15.101.
(2) To determine the retirement mills needed, the net county retirement levy requirement for each fund is divided by:
(a) the sum of the county's taxable valuation as defined in ARM 10.15.101 divided by 1000 plus
(b) the state subsidy per mill for elementary and high school retirement funds provided to each county by the Office of Public Instruction. The state subsidy per mill shall be calculated as follows:
(i) the difference between the statewide mill value per ANB as defined in ARM 10.15.101 and the county mill value per ANB as defined in ARM 10.15.101 multiplied by the sum of all the county's elementary or high school budgeted ANB that is being used to calculate the districts' direct state aid for the school year for which the GTB funding is being sought.
(3) All counties, including those eligible for GTB aid and those not eligible for GTB aid, must use all revenue enumerated in 20-9-501 , MCA, including the revenue listed in (2) to fund the final retirement budget.
(4) When reporting the net retirement levy requirements to the county commissioners in accordance with 20-9-501 , MCA, each county superintendent must report the following information for each county eligible for GTB aid:
(a) the state subsidy for elementary and high school retirement funds;
(b) the calculation used to determine the mills needed to fund the net county retirement levy requirements.
History: 20-9-102, 20-9-369, MCA; IMP, 20-9-368, 20-9-501, MCA; NEW, 1990 MAR p. 723, Eff. 3/16/90; AMD, 1990 MAR p. 2277, Eff. 12/28/90; AMD, 1992 MAR p. 224, Eff. 2/14/92; AMD, 1994 MAR p. 1824, Eff. 7/8/94; AMD, 1998 MAR p. 1719, Eff. 6/26/98; AMD, 2006 MAR p. 3070, Eff. 12/22/06.