The Montana Board of Investments approved the transfer of $14.7 million from the Montana State Fund to the state’s firefighting fund by April 1.
During a special legislative session in November, lawmakers set a temporary 3 percent management fee on a portion of Montana State Fund assets to help pay for Montana’s record fire season. The fee was expected to bring in about $30 million over two years.
Businesses with workers compensation policies through the state fund have filed a lawsuit challenging the fee.
Officials noted there was no court order preventing the transfer, which follows state law passed in November.
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