The bill is a joint resolution from the Montana Legislature requesting an interim study on the property insurance market in the state. It highlights the significant challenges faced by homeowners, landlords, and tenants due to rising property insurance costs, which have increased by 44.3% from 2019 to 2024. The resolution points out that Montana has experienced one of the fastest increases in insurance rates in the nation, with a notable rise in home values and a growing number of homes in high wildfire risk areas. The study aims to evaluate the causes of these increasing property insurance rates, assess their impact, and explore policy strategies to stabilize the market and make insurance more accessible and affordable.

The resolution calls for the Legislative Council to designate an appropriate interim committee to conduct the study, with all aspects to be completed by September 15, 2026. Additionally, it mandates that the final results, including findings and recommendations, be reported to the 70th Legislature. This initiative reflects the urgent need to address the financial burden of property insurance on Montanans, particularly in light of the increasing frequency of wildfires and the disproportionate impact on minority populations.