- (1) The purpose of Chapter 574, Laws of 2001, is to establish a financial partnership between state and local governments.
- (2) This partnership is founded on trust and is committed to protecting and promoting the financial interests of cities, towns, counties, local schools, special districts, and state government.
- (3) Local governments agree to relinquish dedicated revenue in exchange for an entitlement share of the state general fund based on a formula that responds to the performance of the Montana economy.
- (4) The legislature agrees to fund the entitlement share in accordance with the provisions of 15-1-121.
History: En. Sec. 251, Ch. 574, L. 2001.