Bill > HB16

This bill revises Montana's infrastructure loan program by modifying several key provisions related to economic development loans from the permanent coal tax trust fund. The bill removes the previous eligibility criteria that allowed loans to be made for raising salaries, wages, and business incomes of existing employees and employers. Instead, loans will now focus primarily on creating new jobs or expanding businesses that will employ at least 15 people in Montana on a permanent, full-time basis. The bill also changes how infrastructure use fees can be treated for tax purposes, prohibiting businesses from both claiming these fees as a tax credit and deducting them as an expense. The total amount of loans for economic development remains capped at $80 million, and loans must still consider factors like job creation, potential tax revenues, and community infrastructure needs. Additionally, the bill specifies that if a business fails to meet the job creation requirements, any tax credits received must be returned to the state. The changes will apply to infrastructure loans made on or after the bill's effective date and to tax credits claimed after December 31, 2025, with the state required to notify tribal governments about the new law.

Budget and Finance

https://bills.legmt.gov/#/laws/bill/20251/LC0076