Montana legislation · 2025 Regular Session
Montana HB878: Authorize additional funding for coal trust loan program for housing
Status: Failed, May 20, 2025
What the bill says
A bill for an act entitled: "an act authorizing additional funding for low-income and moderate-income housing loans from the permanent coal tax trust fund; revising project requirements; amending sections 17-6-308 and 90-6-137, mca; and providing an effective date.".
From the engrossed text:
A BILL FOR AN ACT ENTITLED: "AN ACT AUTHORIZING ADDITIONAL FUNDING FOR LOW-INCOME AND MODERATE-INCOME HOUSING LOANS FROM THE PERMANENT COAL TAX TRUST FUND; REVISING PROJECT REQUIREMENTS; AMENDING SECTIONS 17-6-308 AND 90-6-137, MCA; AND PROVIDING AN EFFECTIVE DATE." BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MONTANA: Section 1. Section 17-6-308, MCA, is amended to read: "17-6-308. Authorized investments. (1) Except as provided in subsections (2) through (8) of this section and subject to the provisions of 17-6-201, the Montana permanent coal tax trust fund must be invested as authorized by rules adopted by the board. (2) The board may make loans from the permanent coal tax trust fund to the capital reserve account created pursuant to 17-5-1515 to establish balances or restore deficiencies in the account. The board may agree in connection with the issuance of bonds or notes secured by the account or fund to make the loans. Loans must be on terms and conditions determined by the board and must be repaid from revenue realized from the exercise of the board's powers under 17-5-1501 through 17-5-1518 and 17-5-1521 through 17-5-1529, subject to the prior pledge of the revenue to the bonds and notes. (3) The board shall manage the seed capital and research and development loan portfolios created by the former Montana board of science …
Sponsors
- Thane, Mark (D, 89) · primary sponsor
Latest actions
- : (H) Died in Process
- : (H) Fiscal Note Printed
- : (H) Fiscal Note Unsigned
- : (H) Missed Deadline for Appropriation Bill Transmittal
- : (H) Revised Fiscal Note Received
- : (H) 2nd Reading
- : (H) Scheduled for 2nd Reading
- : (H) Committee Report
- : (H) Committee Executive Action
- : (H) Fiscal Note Printed
Votes
- Do Pass (April 7, 2025): 46 yea, 52 nay, failed
Subjects: Taxation--Coal, Housing, Appropriations
Common questions
- What is HB878?
- HB878 is a bill in the Montana Legislature (2025 Regular Session): Authorize additional funding for coal trust loan program for housing.
- What does HB878 do?
- In its own words: A bill for an act entitled: "an act authorizing additional funding for low-income and moderate-income housing loans from the permanent coal tax trust fund; revising project requirements; amending sections 17-6-308 and 90-6-137, mca; and providing an effective date.".
- What is the status of HB878?
- Failed as of May 20, 2025. Latest action: (H) Died in Process (May 20, 2025).
- Who sponsored HB878?
- Thane, Mark (D, 89).
- Where is the official record for HB878?
- On the Montana Legislature website: https://bills.legmt.gov/#/laws/bill/2/LC3755
Source: official Montana record. Tracked by Delilah, AI for legislation across all 50 states and Congress.