The bill amends the Montana Housing Infrastructure Revolving Loan Fund to allow the fund to be used for securing bonds and financing eligible projects while ensuring that all interest and income generated from the fund is retained within the account. It introduces a transfer of $50 million from the general fund to the housing infrastructure revolving loan fund account by June 30, 2025. Additionally, the bill eliminates the previous eligibility priority for funding, which prioritized lending to certain counties based on population and proximity to state-owned facilities.

Key amendments include the ability for the board of investments to use the fund to secure bonds instead of relying solely on the issuer's revolving fund, and to utilize interest income from the fund to finance residential ownership of mobile home parks or other multifamily housing. The bill also retroactively applies to interest and income earned on the account since June 14, 2023, and establishes that eligible infrastructure projects must now provide for residential development at a minimum gross density of three units per acre.

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(5): 17-6-801, 17-6-804, 17-6-805
HB0505_1(6): 17-6-801, 17-6-804, 17-6-805
HB0505_1(7): 17-6-801, 17-6-804, 17-6-805
HB0505_1(8): 17-6-801, 17-6-804, 17-6-805
HB0505_1(9): 17-6-801, 17-6-804, 17-6-805
HB0505_1: 17-6-801, 17-6-804, 17-6-805
HB0505_2(1): 17-6-801, 17-6-804, 17-6-805
HB0505_2(2): 17-6-801, 17-6-804, 17-6-805
HB0505_2(3): 17-6-801, 17-6-804, 17-6-805
HB0505_2(4): 17-6-801, 17-6-804, 17-6-805
HB0505_2(5): 17-6-801, 17-6-804, 17-6-805
HB0505_2(6): 17-6-801, 17-6-804, 17-6-805
HB0505_2: 17-6-801, 17-6-804, 17-6-805
HB0505_3(1): 17-6-801, 17-6-804, 17-6-805
HB0505_3(10): 17-6-801, 17-6-804, 17-6-805
HB0505_3(11): 17-6-801, 17-6-804, 17-6-805
HB0505_3(12): 17-6-801, 17-6-804, 17-6-805
HB0505_3(13): 17-6-801, 17-6-804, 17-6-805
HB0505_3(2): 17-6-801, 17-6-804, 17-6-805
HB0505_3(3): 17-6-801, 17-6-804, 17-6-805
HB0505_3(4): 17-6-801, 17-6-804, 17-6-805
HB0505_3(5): 17-6-801, 17-6-804, 17-6-805
HB0505_3(6): 17-6-801, 17-6-804, 17-6-805
HB0505_3(7): 17-6-801, 17-6-804, 17-6-805
HB0505_3(8): 17-6-801, 17-6-804, 17-6-805
HB0505_3(9): 17-6-801, 17-6-804, 17-6-805
HB0505_3: 17-6-801, 17-6-804, 17-6-805
HB0505_X(1): 17-6-801, 17-6-804, 17-6-805
HB0505_X(10): 17-6-801, 17-6-804, 17-6-805
HB0505_X(11): 17-6-801, 17-6-804, 17-6-805
HB0505_X(12): 17-6-801, 17-6-804, 17-6-805
HB0505_X(13): 17-6-801, 17-6-804, 17-6-805
HB0505_X(2): 17-6-801, 17-6-804, 17-6-805
HB0505_X(3): 17-6-801, 17-6-804, 17-6-805
HB0505_X(4): 17-6-801, 17-6-804, 17-6-805
HB0505_X(5): 17-6-801, 17-6-804, 17-6-805
HB0505_X(6): 17-6-801, 17-6-804, 17-6-805
HB0505_X(7): 17-6-801, 17-6-804, 17-6-805
HB0505_X(8): 17-6-801, 17-6-804, 17-6-805
HB0505_X(9): 17-6-801, 17-6-804, 17-6-805
HB0505_X: 17-6-801, 17-6-804, 17-6-805