This bill amends Section 7-15-4289 of the Montana Code Annotated to introduce a requirement for a public hearing before local governments can pledge tax increment financing to the payment of bonds that would extend the termination of such financing beyond the 15-year limit. Specifically, it mandates that the legislative body of the local government that approved the tax increment provision must hold a public hearing to assess whether the urban renewal plan or targeted economic development district plan necessitates this pledge. Additionally, the local government is required to notify the relevant county and school district about the public hearing.

The bill also establishes that this new requirement will apply to any pledges of tax increment to bond payments made on or after the effective date of the act. This change aims to enhance transparency and public involvement in decisions that could impact local financing and development initiatives.

Statutes affected:
LC Text: 7-15-4289
HB0019_1(1): 7-15-4289
HB0019_1(2): 7-15-4289
HB0019_1(3): 7-15-4289
HB0019_1(4): 7-15-4289
HB0019_1(5): 7-15-4289
HB0019_1: 7-15-4289
HB0019_2(1): 7-15-4289
HB0019_2(2): 7-15-4289
HB0019_2(3): 7-15-4289
HB0019_2(4): 7-15-4289
HB0019_2(5): 7-15-4289
HB0019_2(6): 7-15-4289
HB0019_2(7): 7-15-4289
HB0019_2(8): 7-15-4289
HB0019_2: 7-15-4289
HB0019_X(1): 7-15-4289
HB0019_X(2): 7-15-4289
HB0019_X(3): 7-15-4289
HB0019_X(4): 7-15-4289
HB0019_X(5): 7-15-4289
HB0019_X(6): 7-15-4289
HB0019_X(7): 7-15-4289
HB0019_X(8): 7-15-4289
HB0019_X: 7-15-4289