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 also includes a provision for a transfer of $50 million from the general fund to the loan fund 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 and to finance residential ownership of mobile home parks or multifamily housing. The bill also establishes that general fund transfers can be utilized for infrastructure projects with a minimum gross density of three units per acre. The act is set to take effect immediately upon passage and will apply retroactively 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(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