House Bill No. [insert number] proposes the transfer of interest earnings from the American Rescue Plan Act (ARPA) funds to the coal severance tax permanent fund in Montana. The bill mandates that the state treasurer complete this transfer within ten days of the act's effective date. Additionally, it includes an appropriation of $100 from the general fund to the Department of Revenue for the biennium starting July 1, 2025, to facilitate the implementation of the act.

The bill also contains coordination instructions that specify amendments to be made if it is passed alongside other legislation, such as House Bill No. 4 and Senate Bill No. 90. If both this act and House Bill No. 4 are approved, certain language regarding federal budget amendment authority will be removed from House Bill No. 4. Furthermore, if this act is approved without Senate Bill No. 90, the section regarding the transfer of interest earnings will be amended to direct the funds to the Montana coal endowment regional water system fund instead. The act is set to take effect immediately upon passage and approval.