Bill > SB405

This bill provides additional funding and administrative updates for the Housing Montana Fund, a state housing initiative. Specifically, the bill requires the state treasurer to transfer $50 million from the general fund to the Housing Montana Fund within 15 days of the act's effective date. The bill also mandates that the Department of Commerce review and update its administrative rules related to the housing fund, with these rule amendments required to be adopted before the 70th legislative session. The purpose appears to be bolstering Montana's housing resources by injecting significant funding and ensuring the program's rules are current. The bill will become effective on July 1, 2025, giving state agencies time to prepare for the fund transfer and rule updates. By providing a substantial financial boost to the Housing Montana Fund, the legislation aims to potentially address housing affordability, development, or assistance programs in the state.

Budget and Finance, Business and Industry

https://bills.legmt.gov/#/laws/bill/2/LC4304