The bill aims to enhance access to low-cost capital for 501(c)(3) entities and other public-benefit facilities in Montana by increasing the bond issuance cap for the Montana Facility Finance Authority from $500 million to $1.5 billion. Additionally, it introduces a provision for a biennial inflationary adjustment to this cap, starting July 1, 2027, with an increase of 3% each biennium. The bill amends several sections of the Montana Code Annotated (MCA) to incorporate these changes and clarify definitions related to eligible facilities, including those owned or supported by 501(c)(3) organizations.

Key amendments include the expansion of the definition of "project" to include facilities owned or supported by 501(c)(3) entities, as well as updates to the definitions of "institution" and "eligible facility" to reflect this inclusion. The bill also modifies procedural requirements for financing projects, ensuring that public interest is assessed through hearings and notifications. The act is set to take effect immediately upon passage and approval.

Statutes affected:
LC Text: 90-5-101, 90-7-102, 90-7-104, 90-7-225, 90-7-229, 90-7-302
SB0104_1(1): 90-5-101, 90-7-102, 90-7-104, 90-7-225, 90-7-229, 90-7-302
SB0104_1(2): 90-5-101, 90-7-102, 90-7-104, 90-7-225, 90-7-229, 90-7-302
SB0104_1(3): 90-5-101, 90-7-102, 90-7-104, 90-7-225, 90-7-229, 90-7-302
SB0104_1(4): 90-5-101, 90-7-102, 90-7-104, 90-7-225, 90-7-229, 90-7-302
SB0104_1(5): 90-5-101, 90-7-102, 90-7-104, 90-7-225, 90-7-229, 90-7-302
SB0104_1(6): 90-5-101, 90-7-102, 90-7-104, 90-7-225, 90-7-229, 90-7-302
SB0104_1(7): 90-5-101, 90-7-102, 90-7-104, 90-7-225, 90-7-229, 90-7-302
SB0104_1: 90-5-101, 90-7-102, 90-7-104, 90-7-225, 90-7-229, 90-7-302
SB0104_X(1): 90-5-101, 90-7-102, 90-7-104, 90-7-225, 90-7-229, 90-7-302
SB0104_X(2): 90-5-101, 90-7-102, 90-7-104, 90-7-225, 90-7-229, 90-7-302
SB0104_X(3): 90-5-101, 90-7-102, 90-7-104, 90-7-225, 90-7-229, 90-7-302
SB0104_X(4): 90-5-101, 90-7-102, 90-7-104, 90-7-225, 90-7-229, 90-7-302
SB0104_X(5): 90-5-101, 90-7-102, 90-7-104, 90-7-225, 90-7-229, 90-7-302
SB0104_X: 90-5-101, 90-7-102, 90-7-104, 90-7-225, 90-7-229, 90-7-302