Montana State Fund board drops lawsuit against state

csimt In The News

By: Phil Drake

The Montana State Fund board – with two new members appointed by the governor – voted 5-2 Wednesday to withdraw a lawsuit filed against the state for passing a bill that would temporarily charge a 3 percent management fee to pour $30 million into state coffers to help with a $227 million budget shortfall.

The vote came at the end of a nearly three-hour meeting in which a majority of contractors and others in the audience asked the board to continue its legal action against the state, saying it was wrong to let the money be taken…

Among those opposed to SB 4 include state Insurance Commissioner Matt Rosendale who said dollars collected from policyholders should not be used for other purposes.

Read more at the Great Falls Tribune