The bill amends Section 17-6-801 of the Montana Code Annotated to ensure that all interest and income earned on the Montana housing infrastructure revolving loan fund account is retained within the account. This change aims to enhance the financial sustainability of the fund by allowing it to grow through the earnings it generates. Additionally, the bill stipulates that the principal of the account can only be appropriated with a two-thirds vote from both houses of the legislature.

Furthermore, the bill mandates the state treasurer to transfer a total of $100 million from the general fund to the Montana housing infrastructure revolving loan fund account in two installments: $50 million by June 30, 2025, and another $50 million by June 30, 2026. The act is set to take effect immediately upon passage and approval, and it has retroactive applicability to interest and income earned on the account since June 14, 2023.

Statutes affected:
LC Text: 17-6-801