MT HB920

Creates a temporary property tax exemption for senior care and housing development projects operated by 501(c)(3) nonprofit organizations, lasting up to 5 years with an option to renew for an additional 5 years

Requires tax-exempt sponsors to petition local governments for preapproval, with the governing body holding a public hearing to determine whether there is a "compelling need" for the project

Covers facilities for persons 62+ (or 55+ under federal fair housing provisions), including independent living, assisted living, memory care, nursing care, and hospice, on properties up to 250 acres

Exemption terminates when property is sold or leased to non-tax-exempt entities, or when the project becomes operational; up to 20% of land may be used for ancillary commercial businesses like pharmacies, restaurants, or doctor's offices

Applies to property tax years beginning after December 31, 2025, and requires annual reporting to local governments by participating sponsors