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MT HB878
Bill
Status
Failed
5/20/2025
Primary Sponsor
Mark Thane
Click for details
AI Summary
- Increases funding from the Permanent Coal Tax Trust Fund for low-income and moderate-income housing loans from $65 million to $115 million (a $50 million increase)
- The Montana Board of Housing administers these funds for loans to develop and preserve homes and apartments for eligible applicants
- Removes the requirement that projects funded with these loans be subject to property taxes (previously only tribal land projects were exempt)
- Eligible projects include multifamily rental housing and mobile home parks, with loans limited to 95% of total development costs in first lien position
- Effective date is July 1, 2025
Legislative Description
Authorize additional funding for coal trust loan program for housing
Appropriations
Last Action
(H) Died in Process
5/20/2025
Committee Referrals
Taxation3/27/2025
Full Bill Text
No bill text available