THE COMPLETE TEXT OF LEGISLATIVEREFERENDUM NO. 118 (LR-118)

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MONTANA:

Section1.  Tax levy for university system. There is leviedupon the taxable value of all real estate and personal property subject totaxation in the state of Montana 6 mills forthe support, maintenance, and improvement of the Montana university system. The funds raisedfrom the levy must be deposited in the state special revenue fund.

Section2.  Codification instruction.Section 1 is intended to be codified as an integral part of Title 15, chapter10, part 1, and the provisions of Title 15, chapter 10, part 1, apply tosection 1.

Section3.  Effective dates. (1)Except as provided in subsection (2), this act is effective upon approval bythe electorate.

(2) If approved by theelectorate, section 1 is effective January 1, 2009.

Section4. Termination. Section 1terminates January 1, 2019.

Section5. Submission to electorate.This act shall be submitted to the qualified electors of Montana at the general election to be heldin November 2008 by printing on the ballot the full title of this act and thefollowing:

[ ]      FOR imposing a levy of 6 mills for the support of the Montana university system.

[ ]      AGAINST imposing a levy of 6 mills for the support of the Montana universitysystem.

Montana Secretary of State – Corey Stapleton
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