This bill aims to authorize additional funding for low-income and moderate-income housing loans from the Permanent Coal Tax Trust Fund. It amends Sections 17-6-308 and 90-6-137 of the Montana Code Annotated (MCA) to increase the amount the Board of Housing can administer for housing loans from $65 million to $115 million. The bill also includes provisions for the Montana facility finance authority to manage $15 million for capital projects and allows the Board to make loans to assist with the development and preservation of homes and apartments for eligible applicants.

Additionally, the bill introduces a new section that mandates the state treasurer to transfer $50 million from the general fund to the coal severance tax permanent fund within 15 days of the act's effective date. The act is set to take effect immediately upon passage and approval. Overall, the bill seeks to enhance funding mechanisms for housing initiatives aimed at supporting low-income and moderate-income individuals in Montana.

Statutes affected:
LC Text: 17-6-308, 90-6-137