Governor Seeks 'Management Fee' on MSF Investments to Balance Budget

Montana Gov. Steve Bullock is calling lawmakers to Helena for a special session to address a $227 million budget deficit and is proposing a “management fee” on some assets of the Montana State Fund as part of the fix. The governor’s office released a series of legislative proposals that includes a 3% “management fee” for “certain State Fund accounts with over $1 billion in assets.” The governor’s proposal projects that the “temporary revenue enhancement” will generate $29.7 million over fiscal years 2018 and 2019. The plan ...