Here's an idea: Let's not have have our third special legislative since last spring.
A special session was required right after the regular session in order to set the state's budget. Then, last month, lawmakers met to deal with firefighting costs. Now, there's talk about yet another special session concerning an income-tax credit of about $140 for Montana homeowners.
The issue involves the Schweitzer administration's determination that the state treasury exceeded $1.8 billion by about $36 million in fiscal 2007, triggering the tax credit. The credit is in addition to this year's $400 tax rebate given the state's homeowners.
But last month Terry Johnson of the Legislative Fiscal Division said the administration pulled the trigger improperly by failing to calculate the treasury balance using "generally accepted accounting principles." Using such principles would leave the treasury some $24 million short, he said.
This has led to some head scratching. On the one hand, the law seems clear. On the other, most lawmakers want the tax credit to happen. Sen. Dave Wanzenried, D-Missoula, said Tuesday the administration was correct because the legislative intent was to count the overall amount of state revenue.
Another Legislative Finance Committee member, Sen. John Brueggeman, R-Polson, said "the letter of the law is the letter of the law." But he said that maybe everybody involved can reach "détente" on the matter and just let it go.
We don't know what legislators will do, but that sure sounds better than going to the expense of convening yet another special session.
Posted in Opinion on Thursday, October 11, 2007 12:00 am
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