The bill amends Section 90-4-1302 of the Montana Code Annotated to expand opportunities for multifamily financing under the Commercial Property-Assessed Capital Enhancements Act. A significant insertion in the bill defines "multifamily housing facility" as a property with at least five units primarily intended for residential use, each equipped with a full bathroom and a complete kitchen. This definition encompasses various types of housing arrangements, including rental and owner-occupied units, which may be attached, detached, semidetached, or row houses.

Additionally, the bill modifies the definition of "real property" to include multifamily housing facilities, replacing the previous term "covered multifamily housing accommodation." This change aims to clarify the types of properties eligible for financing under the program. The act is set to take effect immediately upon passage and approval, reflecting the legislature's intent to enhance financing options for multifamily housing projects in Montana.

Statutes affected:
LC Text: 90-4-1302
HB0120_1(1): 90-4-1302
HB0120_1(2): 90-4-1302
HB0120_1(3): 90-4-1302
HB0120_1(4): 90-4-1302
HB0120_1(5): 90-4-1302
HB0120_1(6): 90-4-1302
HB0120_1: 90-4-1302
HB0120_2: 90-4-1302
HB0120_X(1): 90-4-1302
HB0120_X(10): 90-4-1302
HB0120_X(11): 90-4-1302
HB0120_X(2): 90-4-1302
HB0120_X(3): 90-4-1302
HB0120_X(4): 90-4-1302
HB0120_X(5): 90-4-1302
HB0120_X(6): 90-4-1302
HB0120_X(7): 90-4-1302
HB0120_X(8): 90-4-1302
HB0120_X(9): 90-4-1302
HB0120_X: 90-4-1302