Bill > HB8

This bill authorizes the issuance of up to $121,198,444 in coal severance tax bonds for renewable resource projects and appropriates these funds to the Department of Natural Resources and Conservation for loans during the biennium beginning July 1, 2025. * **Willow Creek Dam Rehabilitation:** $14,000,000 loan from coal severance tax bonds to the Department of Natural Resources and Conservation for dam rehabilitation. * **Painted Rocks Dam Rehabilitation, Phase 1:** $15,000,000 loan from coal severance tax bonds to the Department of Natural Resources and Conservation for dam rehabilitation. * **Fort Shaw Irrigation District (Simms Creek Siphon Replacement):** $5,181,317 loan from coal severance tax bonds. * **Hammond Irrigation District (Big Porcupine Siphon Rehabilitation):** $241,900 loan from coal severance tax bonds. * **Kinsey Irrigation District (Harris Creek Spill Structure Rehabilitation):** $511,520 loan from coal severance tax bonds. * **Kinsey Irrigation District (Hammerbacker Lateral to Pipeline Conversion):** $840,823 loan from coal severance tax bonds. * **Zurich Irrigation District (Brown Creek Siphon Rehabilitation):** $872,884 loan from coal severance tax bonds. * **Greenfields Irrigation District (Hydropower Development):** $1,500,000 loan from coal severance tax bonds for projects reauthorized from the previous legislature. * **Department of Natural Resources and Conservation (Refinance Existing Debt or Rehabilitation of Infrastructure Facilities):** $8,000,000 loan from coal severance tax bonds for projects reauthorized from the previous legislature. * **Central Montana Regional Water Authority (Local Match for Central Montana Regional Water Projects):** $5,000,000 loan from coal severance tax bonds for projects reauthorized from the previous legislature. * **Dry-Redwater Regional Water Authority (Local Match for Dry-Redwater Regional Water Projects):** $10,000,000 loan from coal severance tax bonds for projects reauthorized from the previous legislature. * **Dry Prairie Regional Water Authority (Local Match for Dry Prairie Regional Water Projects):** $5,000,000 loan from coal severance tax bonds for projects reauthorized from the previous legislature. * **North Central Regional Water Authority (Local Match for North Central Regional Water Projects):** $10,000,000 loan from coal severance tax bonds for projects reauthorized from the previous legislature. * **Huntley Irrigation District (Reauthorization Tunnel 2 and Canal System):** $3,500,000 loan from coal severance tax bonds for projects reauthorized from the previous legislature. * **Lockwood Irrigation District (Box Elder Siphon, Pump Station, and Pump 3):** $1,550,000 loan from coal severance tax bonds for projects reauthorized from the previous legislature. * **St. Mary's Milk River Project Beneficiaries:** $40,000,000 loan from coal severance tax bonds for projects reauthorized from the previous legislature. * **Bond Reserve:** Up to $12,119,844 of the total bond authorization is to establish a reserve for the bonds. Loans made under this bill will have an interest rate of 3.0% or the rate at which the state bonds are sold, whichever is lower, for up to 30 years. Disbursement of funds is contingent on project sponsors meeting specific conditions, including approval of the scope of work and budget, commitment of other funds, and execution of a loan agreement. Loan repayments are pledged to cover the debt service on the bonds.