Montana legislation · 2025 Regular Session
Montana HB505: Allow Montana housing infrastructure revolving loan fund to retain its interest and income and provide for fund transfers
Status: Signed into law, May 19, 2025
What the bill says
An act providing that the montana housing infrastructure revolving loan fund may be used to secure bonds and provide financing for eligible projects and retaining all interest and income in the accounts; providing for a transfer of funds; eliminating eligibility priority; amending sections 17-6-801, 17-6-804, and 17-6-805, mca; and providing an immediate effective date and a retroactive applicability date.
From the engrossed text:
AN ACT PROVIDING THAT THE MONTANA HOUSING INFRASTRUCTURE REVOLVING LOAN FUND MAY BE USED TO SECURE BONDS AND PROVIDE FINANCING FOR ELIGIBLE PROJECTS AND RETAINING ALL INTEREST AND INCOME IN THE ACCOUNTS; PROVIDING FOR A TRANSFER OF FUNDS; ELIMINATING ELIGIBILITY PRIORITY; AMENDING SECTIONS 17-6-801, 17-6-804, AND 17-6-805, MCA; AND PROVIDING AN IMMEDIATE EFFECTIVE DATE AND A RETROACTIVE APPLICABILITY DATE. Section 1. Section 17-6-801, MCA, is amended to read: "17-6-801. Montana housing infrastructure revolving loan fund account. (1) There is a Montana housing infrastructure revolving loan fund account within the state special revenue fund type established in 172-102 to the credit of the board of investments. Money deposited in the account established in this section must be invested by the board of investments as provided by law. All interest and income earned on the account must be retained in the account. (2) The principal of the account may only be appropriated by a vote of two-thirds of the members of each house of the legislature." Section 2. Section 17-6-804, MCA, is amended to read: "17-6-804. Eligibility -- priority. (1) For the costs of an infrastructure project to be eligible to be paid by the proceeds of a loan or bonds or other securities of an eligible government unit as defined in 17-5-1604, the infrastructure project must provide for residential development at …
Sponsors
- Vinton, Mike (R, 40) · primary sponsor
Latest actions
- : Chapter Number Assigned
- : (H) Signed by Governor
- : (H) Transmitted to Governor
- : (S) Signed by President
- : (H) Signed by Speaker
- : (H) Returned from Enrolling
- : (H) Sent to Enrolling
- : (H) 3rd Reading Senate Amendments
- : (H) Scheduled for 3rd Reading
- : (H) 2nd Reading Senate Amendments
Votes
- Do Concur (April 30, 2025): 96 yea, 4 nay, passed
- Do Concur (April 29, 2025): 89 yea, 8 nay, passed
- Do Concur (April 25, 2025): 44 yea, 5 nay, passed
- Do Concur As Amended (April 23, 2025): 42 yea, 8 nay, passed
- AMD-HB0505.001.004 Zolnikov D/PASS (April 23, 2025): 45 yea, 5 nay, passed
- Do Pass (April 5, 2025): 90 yea, 8 nay, passed
Subjects: Housing, Appropriations, State Finance, Money Transfer
Common questions
- What is HB505?
- HB505 is a bill in the Montana Legislature (2025 Regular Session): Allow Montana housing infrastructure revolving loan fund to retain its interest and income and provide for fund transfers.
- What does HB505 do?
- In its own words: An act providing that the montana housing infrastructure revolving loan fund may be used to secure bonds and provide financing for eligible projects and retaining all interest and income in the accounts; providing for a transfer of funds; eliminating eligibility priority; amending sections 17-6-801, 17-6-804, and 17-6-805, mca; and providing an immediate effective date and a retroactive applicability date.
- What is the status of HB505?
- Signed into law as of May 19, 2025. Latest action: Chapter Number Assigned (May 19, 2025).
- Who sponsored HB505?
- Vinton, Mike (R, 40).
- Where is the official record for HB505?
- On the Montana Legislature website: https://bills.legmt.gov/#/laws/bill/2/LC1905
Source: official Montana record. Tracked by Delilah, AI for legislation across all 50 states and Congress.