MSF Board Passes Motion Opposing Fee on Investments

The board of directors for the Montana State Fund, during an emergency meeting Friday, unanimously adopted a motion opposing the governor’s proposal to impose a 3% management fee on the carrier’s investments to help plug a $227 million budget deficit. Gov. Steve Bullock ordered lawmakers to return to Helena for a special session starting Tuesday to balance the budget. One of the governor’s proposals to increase revenue is a 3% tax on investments of the state-chartered workers’ compensation carrier, which is projected to bring in $29.7 million over the next two...