Bill > HB819

This bill creates the Montana Community Reinvestment Plan Act to address the state's shortage of attainable workforce housing. The bill establishes a Montana Community Reinvestment Plan account to fund the creation of affordable housing infrastructure, and allows for the creation of regional community reinvestment organizations to invest the funds by buying down the costs of mortgages for eligible households earning between 60-140% of median income. The bill also creates a Montana Housing Infrastructure Revolving Loan Fund Account to provide loans for infrastructure projects to serve new or rehabilitated residential development, and appropriates funds to incentivize workforce housing in communities near state facilities. Overall, the bill aims to increase home ownership, rental opportunities, and housing supply to meet the needs of Montana's growing population.