House Bill No. [insert bill number] aims to revise the Renewable Resource Grant and Loan Program and the Montana Coal Endowment Program by introducing new requirements for local governments seeking funding. Specifically, local governments must establish and continually fund a capital reserve account dedicated to necessary infrastructure improvements, such as water supply and wastewater systems, before they can access funds from these programs. The bill outlines the criteria for establishing this account, including a requirement to deposit a percentage of revenues from water-related fees or a fixed amount per acre-foot of water storage capacity. Additionally, the bill sets a minimum project cost of $50,000 for expenditures from the capital reserve account.

The bill also amends existing sections of the Montana Code Annotated (MCA) to incorporate a prioritization system for awarding financial assistance based on the ratio of local match to total project cost, among other factors. It mandates that applications for grants or loans must be submitted by the project owner, which can include third-party entities. The legislation emphasizes the importance of local funding contributions and establishes a framework for evaluating and prioritizing projects based on their urgency, community support, and potential for job creation. Overall, the bill seeks to enhance the effectiveness and accountability of funding for local infrastructure projects in Montana.

Statutes affected:
LC Text: 85-1-605, 90-6-703, 90-6-710
HB0579_1(1): 85-1-605, 90-6-703, 90-6-710
HB0579_1(2): 85-1-605, 90-6-703, 90-6-710
HB0579_1: 85-1-605, 90-6-703, 90-6-710