This bill amends Section 7-15-4289 of the Montana Code Annotated (MCA) to introduce a requirement for a public hearing before local governments can pledge tax increment financing (TIF) to the payment of bonds that would extend the termination of a TIF district beyond the 15-year limit. Specifically, the legislative body of the local government that approved the TIF provision must hold a public hearing to determine if the urban renewal plan or targeted economic development district comprehensive development plan necessitates such a pledge. Additionally, the local government is required to notify the relevant county and school district about the public hearing.

The bill also establishes that this new requirement will apply to any pledges of tax increment to bond payments made on or after the effective date of the act. This legislative change aims to enhance transparency and public involvement in decisions related to the extension of TIF districts and the associated financial commitments.

Statutes affected:
LC Text: 7-15-4289
HB0019_1(1): 7-15-4289
HB0019_1(2): 7-15-4289
HB0019_1(3): 7-15-4289
HB0019_1(4): 7-15-4289
HB0019_1(5): 7-15-4289
HB0019_1: 7-15-4289
HB0019_2(1): 7-15-4289
HB0019_2(2): 7-15-4289
HB0019_2(3): 7-15-4289
HB0019_2(4): 7-15-4289
HB0019_2(5): 7-15-4289
HB0019_2(6): 7-15-4289
HB0019_2(7): 7-15-4289
HB0019_2(8): 7-15-4289
HB0019_2: 7-15-4289
HB0019_X(1): 7-15-4289
HB0019_X(2): 7-15-4289
HB0019_X(3): 7-15-4289
HB0019_X(4): 7-15-4289
HB0019_X(5): 7-15-4289
HB0019_X(6): 7-15-4289
HB0019_X(7): 7-15-4289
HB0019_X(8): 7-15-4289
HB0019_X: 7-15-4289