Montana § 20-9-620 Definition

Montana Statutes

§ 20-9-620 — Definition

Montana·Title 20 EDUCATION·Ch. 9 FINANCE·Part 6 Public School Fund and Grants to Schools

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.

Free access — add to your briefcase to read the full text and ask questions with AI

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.

Montana § 20-9-620 (Definition) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative 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.