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MT HB19

Bill

Official Source

Status

Passed

2/27/2025

Primary Sponsor

Larry Brewster

Click for details

Origin

House of Representatives

2025 Regular Session

AI Summary

  • Local governments must hold a public hearing before pledging tax increment to bond payments that would extend a tax increment financing (TIF) district beyond 15 years
  • The hearing must address whether fulfillment of the urban renewal plan or targeted economic development district comprehensive development plan requires the bond pledge
  • Local governments must notify the county and school district where the TIF district is located about the public hearing
  • Applies to tax increment pledges made on or after the effective date of the act
  • Amends Section 7-15-4289, MCA, adding the public hearing requirement to existing bonding authority

Legislative Description

Require public hearing before certain tax increment financing bonding

Local Finance

Last Action

(H) Signed by Governor

2/27/2025

Committee Referrals

Taxation1/20/2025
Taxation12/20/2024

Full Bill Text

No bill text available