Montana Code 17-5-1323. Recordkeeping
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17-5-1323. Recordkeeping. The department shall maintain complete records of all applications for allocations to ensure that the requirements of the tax act, with respect to the volume cap, and the requirements of the state‘s volume cap are observed.
Terms Used In Montana Code 17-5-1323
- Department: means the department of administration. See Montana Code 17-5-1302
- State: when applied to the different parts of the United States, includes the District of Columbia and the territories. See Montana Code 1-1-201
- Tax act: means the latest limitation enacted by the United States congress on the amount of cap bonds that may be issued by a state or local issuer. See Montana Code 17-5-1302
- Volume cap: means , with respect to each calendar year, the principal amount of cap bonds that may be issued in the state in a calendar year as determined under the provisions of the tax act. See Montana Code 17-5-1302