15-38-121. Certain royalties exempt. Exempt from taxation are royalties received by:
     (1) an Indian tribe with respect to mineral production pursuant to a lease entered into under the Indian Mineral Leasing Act of 1938, 25 U.S.C. 396a through 396g;
     (2) the United States as trustee for individual Indians; and
     (3) the United States, the state of Montana, or a county or municipal government.

     History: En. Sec. 1, Ch. 536, L. 1989; amd. Sec. 1, Ch. 92, L. 1991; amd. Sec. 35, Ch. 451, L. 1995.