Bill > SB104

This bill expands access to low-cost capital for certain nonprofits and public-benefit facilities by making several key changes to Montana's facility finance laws. The bill increases the Montana Facility Finance Authority's bond issuance cap from $500 million to $1.5 billion and adds a 3% biennial inflationary adjustment starting in July 2027. It broadens the definition of eligible facilities to explicitly include entities organized under section 501(c)(3) of the Internal Revenue Code and expands the types of projects that can be financed, such as facilities owned, used, or supported by nonprofit organizations. The bill also modifies procedures for financing projects, including requirements for public hearings and notifications when considering bond financing for certain types of projects. Additionally, the bill updates definitions across several sections of Montana law to accommodate these expanded financing opportunities, making it easier for nonprofits, healthcare providers, educational institutions, and other qualifying organizations to access affordable financing for their facilities and projects. The bill takes effect immediately upon passage and approval.

Budget and Finance, Business and Industry

https://bills.legmt.gov/#/laws/bill/2/LC0459