This bill aims to authorize additional funding for low-income and moderate-income housing loans from the Permanent Coal Tax Trust Fund by amending existing laws. Specifically, it increases the amount the Board of Housing can administer from $65 million to $115 million for the development and preservation of homes and apartments to assist eligible applicants. The bill also includes provisions for the Montana facility finance authority to manage $15 million for capital projects and allows for loans to be made to various entities, including cities impacted by coal-fired generating unit closures.

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 while ensuring that the coal tax trust fund is utilized effectively to support low-income and moderate-income housing needs.

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