Bill > HB126

This bill generally revises laws related to the Montana Facility Finance Authority. The key provisions of the bill include: 1. Expanding the definition of "project" that the authority can finance to include education facilities and providers, as well as facilities owned, used, or supported by nonprofit corporations organized under Section 501(c)(3) of the Internal Revenue Code. 2. Increasing the aggregate principal amount of bonds and notes the authority can issue on behalf of nonprofit corporations organized under Section 501(c)(3) from $500 million to $1 billion per biennium, while removing the limit on bonds and notes issued on behalf of other private corporations. 3. Requiring a public hearing and determination of public interest for the authority to finance certain projects, including those with qualified small issue bond financing. 4. Specifying that the bill is effective upon passage and approval. The bill aims to expand the types of facilities and organizations the Montana Facility Finance Authority can support through bond financing, while also providing additional oversight and public input for certain types of projects.

Government Affairs

https://laws.leg.mt.gov/legprd/LAW0210W$BSIV.ActionQuery?P_BILL_NO1=126&P_BLTP_BILL_TYP_CD=HB&Z_ACTION=Find&P_SESS=20231