Montana § 17-5-1302 - Definitions
Full text of Montana Montana Code Annotated § 17-5-1302 — Definitions, with citation guidance and answers to common questions.
§ 17-5-1302. Definitions
Definitions. As used in this part, unless the context clearly requires otherwise, the following definitions apply: (1) "Allocation" means an allocation of a part of the state's volume cap to an issuer pursuant to this part. (2) "Board" means the board of examiners. (3) "Bonds" means bonds, notes, or other interest-bearing obligations of an issuer. (4) "Cap bonds" means those private activity bonds and that portion of governmental bonds for which a part of the volume cap is required to be allocated pursuant to the tax act. (5) "Department" means the department of administration. (6) "Governmental bonds" means bonds other than private activity bonds. (7) "Issuer" means a state issuer or local issuer. (8) "Local issuer" means a city, town, county, or other political subdivision of the state authorized to issue private activity bonds or governmental bonds. (9) "Local portion" means that portion of the state's volume cap reserved for local issuers. (10) "Private activity bonds" (PABs) has the meaning prescribed under section 141 of the Internal Revenue Code, 26 U.S.C. 141. (11) "State issuer" means the state and any agency, board, or authority of the state authorized to issue private activity bonds. (12) "State portion" means that portion of the state's volume cap reserved for state issuers. (13) "State's volume cap" means that amount of the volume cap specified by the department pursuant to 17-5-1311 (2). (14) "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. (15) "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.
Frequently Asked Questions About Montana § 17-5-1302
What does Montana Code Annotated § 17-5-1302 cover?
Section 17-5-1302 ("Definitions") is part of the Montana Code Annotated, the codified statutory law of Montana. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Montana § 17-5-1302?
A common citation format is "Montana Code Annotated § 17-5-1302" (Montana). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Montana law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Montana official source linked on this page or consult a licensed Montana attorney.
How does Montana § 17-5-1302 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Montana can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Montana.