Bill > HB8

This bill authorizes the Montana Department of Natural Resources and Conservation (DNRC) to provide specific loans for renewable resource and infrastructure projects across various irrigation districts and water authorities. The bill allows for up to $121,198,444 in coal severance tax bonds to be issued during the biennium beginning July 1, 2025, with up to $12,119,844 set aside as a bond reserve. The loans, which can be up to 30 years long, will have an interest rate of 3.0% or the state bond rate, whichever is lower, and cover projects such as dam rehabilitations, irrigation district infrastructure improvements, and regional water project local matches. These projects include rehabilitation of Willow Creek and Painted Rocks Dams, siphon replacements for various irrigation districts, and local match funding for regional water authorities. The bill requires project sponsors to meet specific conditions for loan disbursement, such as obtaining DNRC approval for project scope and budget, documenting committed funds, and executing a loan agreement. Additionally, the bill mandates a two-thirds legislative vote to create state debt and a three-fourths vote to appropriate coal severance tax funds, and requires the secretary of state to notify tribal governments about the act.

Budget and Finance

https://bills.legmt.gov/#/laws/bill/20251/LC0713