The bill proposes to exempt various grant and loan programs administered by the Department of Commerce from the review requirements under the Montana Environmental Policy Act (MEPA). Specifically, it outlines exemptions for programs related to microbusiness development, historic preservation, workforce training, agritourism, cultural tourism, economic development projects, the Montana wood products industry, housing financing, reverse annuity mortgage loans for elderly citizens, and veterans' home loan mortgage programs. Each section of the bill specifies that the Department of Commerce and associated entities are not required to adhere to the provisions of Title 75, chapter 1, parts 1 and 2, when engaging in these activities.

Additionally, the bill includes a provision for notifying tribal governments about the act and establishes codification instructions for integrating the new exemptions into existing law. The effective date for the bill is set for July 1, 2025. Overall, the legislation aims to streamline the process for the Department of Commerce in administering these programs by removing the environmental review requirement, thereby potentially accelerating funding and support for various development initiatives in Montana.