House Bill No. introduced by M. Vinton, D. Zolnikov, and J. Kassmier aims to enhance the Montana Housing Infrastructure Revolving Loan Fund by allowing it to secure bonds and provide financing for eligible infrastructure projects. Key amendments include retaining all interest and income earned in the fund account, eliminating the previous eligibility priority for funding, and allowing general fund transfers to be used for residential development projects with a minimum density of four units per acre. The bill also mandates the transfer of $50 million from the general fund to the loan fund account by June 30, 2025, and another $50 million by June 30, 2026.

Additionally, the bill amends existing sections of the Montana Code Annotated (MCA) to clarify the financing terms and conditions for loans made from the fund. It allows the board of investments to use the fund to secure bonds and finance residential ownership of mobile home parks or multifamily housing. The act is set to take effect immediately upon passage and approval, with retroactive applicability to interest and income earned on the fund since June 14, 2023.

Statutes affected:
LC Text: 17-6-801
HB0505_1(1): 17-6-801, 17-6-804, 17-6-805
HB0505_1(2): 17-6-801, 17-6-804, 17-6-805
HB0505_1(3): 17-6-801, 17-6-804, 17-6-805
HB0505_1(4): 17-6-801, 17-6-804, 17-6-805
HB0505_1: 17-6-801, 17-6-804, 17-6-805