This bill authorizes the Department of Natural Resources and Conservation (DNRC) to provide loans for various renewable resource projects, with a total loan amount not exceeding $121,198,444. The loans will be funded through coal severance tax bonds, with an interest rate set at 3.0% or the rate at which the state bonds are sold, whichever is lower, for a term of up to 30 years. The bill lists specific projects and their corresponding loan amounts, including rehabilitation of dams and irrigation infrastructure across several districts. Additionally, it reauthorizes certain projects that were previously approved but did not meet the necessary requirements to secure funding by the deadline.

The bill also establishes conditions for loan disbursement, including the approval of project scopes and budgets by the DNRC, and requires project sponsors to document other funding commitments. It allows for the private purchase and sale of loans and bonds by the DNRC at a discount. Furthermore, the bill mandates a two-thirds legislative vote for the creation of state debt and a three-fourths vote for appropriating funds from the coal severance tax bond fund. The act is set to take effect on July 1, 2025, and includes provisions for notifying tribal governments in Montana.