The proposed legislation, titled the "Senior Care Facilities and Housing Development Exemption Act," aims to address the shortage of affordable senior care and housing facilities in Montana by providing a temporary property tax exemption for development projects that cater to seniors. The bill outlines a process for tax-exempt senior care and housing sponsors to petition local governments for approval of property tax exemptions, which can be granted if the governing body determines there is a compelling need for such projects. The exemption can last for up to five years, with the possibility of a renewal for an additional five years, provided certain conditions are met.

Additionally, the bill amends existing law regarding property tax computations to include provisions for these exemptions. Specifically, it modifies Section 15-10-305, stating that property tax computations for land splits will consider the exemptions granted under this act. The legislation also establishes definitions for key terms related to senior care facilities and housing, outlines the responsibilities of tax-exempt sponsors, and grants rulemaking authority to the Department of Revenue to implement the act. The provisions of the act will apply to property tax years beginning after December 31, 2025.

Statutes affected:
LC Text: 15-10-305
HB0920_1(1): 15-10-305
HB0920_1(2): 15-10-305
HB0920_1(3): 15-10-305
HB0920_1(4): 15-10-305
HB0920_1(5): 15-10-305
HB0920_1: 15-10-305
HB0920_X(1): 15-10-305
HB0920_X(2): 15-10-305
HB0920_X(3): 15-10-305
HB0920_X(4): 15-10-305
HB0920_X(5): 15-10-305
HB0920_X: 15-10-305