Montana § 82-4-367 - Long-Term Or Perpetual Water Treatment Permanent Trust Fund

§ 82-4-367. Long-Term Or Perpetual Water Treatment Permanent Trust Fund

Long-term or perpetual water treatment permanent trust fund. (1) There is established a fund of the permanent fund type to pay exclusively for the cost to the state of long-term or perpetual water treatment at the Zortman and Landusky mine sites. (2) The fund is financed with: (a) funds transferred from the orphan share account pursuant to 75-10-743 ; and (b) other sources of funding that the legislature or congress may from time to time provide. (3) The fund must be invested by the board of investments pursuant to Title 17, chapter 6, part 2, and the earnings from the investment must be credited to the principal of the fund until the year 2018. (4) The annual earnings on the fund for the year 2018 and for each succeeding year may be appropriated for the purposes of subsection (1). (5) The principal of the fund must remain inviolate unless appropriated by a vote of two-thirds of the members of each house of the legislature. An appropriation of the principal may only be made for payment of the costs of long-term or perpetual water treatment at the Zortman and Landusky mine sites.