Montana legislation · 2025 Regular Session
Montana HB306: Provide tax credit to landlords that rent for below market rate
Status: Failed, May 20, 2025
What the bill says
A bill for an act entitled: "an act providing an income tax credit for a property owner that rents a dwelling below market rate; providing that the credit is available for individual income taxpayers and corporate income taxpayers; providing that the credit may be carried forward; providing definitions; amending section 15-30-2303, mca; and providing an applicability date.".
From the engrossed text:
A BILL FOR AN ACT ENTITLED: "AN ACT PROVIDING AN INCOME TAX CREDIT FOR A PROPERTY OWNER THAT RENTS A DWELLING BELOW MARKET RATE; PROVIDING THAT THE CREDIT IS AVAILABLE FOR INDIVIDUAL INCOME TAXPAYERS AND CORPORATE INCOME TAXPAYERS; PROVIDING THAT THE CREDIT MAY BE CARRIED FORWARD; PROVIDING DEFINITIONS; AMENDING SECTION 15-30-2303, MCA; AND PROVIDING AN APPLICABILITY DATE." BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MONTANA: NEW SECTION. Section 1. Credit for renting dwelling below market rate. (1) A taxpayer or corporation is allowed a credit against the tax imposed by chapter 30 or 31 for property owners who rent a dwelling in Montana below market rate. The credit is available to a taxpayer or corporation that charges rent on a dwelling of less than 110% of fair market rent for the county in which the property is located. (2) The amount of the credit is equal to $200 for each $100 by which 110% of fair market rent exceeds monthly rent. (3) The credit allowed under this section may not exceed the taxpayer's income tax liability but may be carried forward 3 years. The entire amount of the tax credit not used in the year earned must be carried first to the earliest tax year in which the credit may be applied and then to each succeeding …
Sponsors
- Baum, Denise (D, 45) · primary sponsor
Latest actions
- : (H) Died in Process
- : (H) Missed Deadline for Revenue Bill Transmittal
- : (H) Tabled in Committee
- : (H) Fiscal Note Printed
- : (H) Fiscal Note Signed
- : (H) Fiscal Note Received
- : (H) Hearing
- : (H) 1st Reading
- : (H) Referred to Committee
- : (H) Fiscal Note Requested
Subjects: Taxation, Revenue, State, Landlord and Tenant, Taxation--Individual Income
Common questions
- What is HB306?
- HB306 is a bill in the Montana Legislature (2025 Regular Session): Provide tax credit to landlords that rent for below market rate.
- What does HB306 do?
- In its own words: A bill for an act entitled: "an act providing an income tax credit for a property owner that rents a dwelling below market rate; providing that the credit is available for individual income taxpayers and corporate income taxpayers; providing that the credit may be carried forward; providing definitions; amending section 15-30-2303, mca; and providing an applicability date.".
- What is the status of HB306?
- Failed as of May 20, 2025. Latest action: (H) Died in Process (May 20, 2025).
- Who sponsored HB306?
- Baum, Denise (D, 45).
- Where is the official record for HB306?
- On the Montana Legislature website: https://bills.legmt.gov/#/laws/bill/2/LC3243
Source: official Montana record. Tracked by Delilah, AI for legislation across all 50 states and Congress.