reglab/statecodes huggingface dataset:
2023 Montana Code Annotated › Title 17. State Finance › Chapter 6. Deposits and Investments › Part 3. Montana In-State Investment › 17-6-305. Investment of coal tax trust fund in Montana economy -- report by board

17-6-305. Investment of coal tax trust fund in Montana economy -- report by board.
(1) Subject to the provisions of 17-6-201(1), the board shall endeavor to invest 25% of the permanent coal tax trust fund established in 17-6-203(6) in the Montana economy, with special emphasis on investments in new or expanding locally owned enterprises. Investments made pursuant to this section do not include investments made pursuant to 17-6-309(2). For purposes of calculating the 25% of the permanent coal tax trust fund, the board shall include all funds listed in 17-5-703(1). The portion of the permanent coal tax trust fund contained in portfolios formerly administered by the Montana board of science and technology development is included in the 25% of the trust fund allocated to the board for in-state investment under this section. This subsection does not prohibit the board from investing more than 25% of the permanent coal tax trust fund in the Montana economy if it is prudent to do so and the investments will benefit the Montana economy.
(2) In determining the probable income to be derived from investment of this revenue, the long-term benefit to the Montana economy must be considered.
(3) The legislature may provide additional procedures to implement this section.
(4) The board shall include a report on the investments made under this section as a part of the information required by 17-7-111.
History: En. Sec. 3, I.M. No. 95, approved Nov. 2, 1982; amd. Sec. 1, Ch. 338, L. 1985; amd. Sec. 6, Ch. 418, L. 1985; amd. Sec. 14, Ch. 16, L. 1991; amd. Sec. 6, Ch. 589, L. 1991; amd. Sec. 16, Ch. 787, L. 1991; amd. Sec. 21, Ch. 349, L. 1993; amd. Sec. 1, Ch. 34, L. 1995; amd. Sec. 1, Ch. 477, L. 1995; amd. Sec. 5, Ch. 549, L. 1997; amd. Sec. 8, Ch. 307, L. 2001; amd. Sec. 1, Ch. 444, L. 2007.
2023 Montana Code Annotated › Title 17. State Finance › Chapter 6. Deposits and Investments › Part 3. Montana In-State Investment › 17-6-306. Repealed

17-6-306. Repealed.
Sec. 19, Ch. 589, L. 1991.
History: En. Sec. 3, Ch. 677, L. 1983; amd. Sec. 2, Ch. 338, L. 1985; amd. Sec. 7, Ch. 445, L. 1987; amd. Sec. 17, Ch. 787, L. 1991.
2023 Montana Code Annotated › Title 17. State Finance › Chapter 6. Deposits and Investments › Part 3. Montana In-State Investment › 17-6-309. Investment preferences

17-6-309. Investment preferences.
(1) Subject to the provisions of subsection (2), in deciding which of several investments of equal or comparable security and return are to be made when sufficient funds are not available to fund all possible investments, the board shall give preference to the business investments that:
(a) assist employee-owned enterprises in providing new jobs or in preserving existing jobs for Montana residents or in otherwise contributing to the long-term benefit of the Montana economy, including raising the per capita income of Montana jobholders;
(b) are for locally owned enterprises that are either expanding or establishing new operations;
(c) provide jobs that will be substantially filled by current Montana residents as opposed to providing jobs that will be filled by nonresidents coming into the state to fill the jobs;
(d) maintain and improve a clean and healthful environment, with emphasis on energy efficiency;
(e) encourage or benefit the processing, refining, marketing, and innovative use and promotion of Montana's agricultural products; or
(f) benefit small- and medium-sized businesses as defined in rules adopted by the board.
(2) The board may make a loan to enhance economic development and create jobs in the basic sector of the economy, as defined by the board by rule, if the loan will result in the creation of a business estimated to employ at least 15 people in Montana on a permanent, full-time basis or result in the expansion of a business estimated to employ at least an additional 15 people in Montana on a permanent, full-time basis or raise salaries, wages, and business incomes of existing employees and employers.
(3) The board may make a working capital loan to an owner of a coal-fired generating unit if the loan will prevent the elimination of jobs and provide stability in a community impacted by the operation of a coal-fired generating unit.
History: En. Sec. 6, Ch. 677, L. 1983; amd. Sec. 2, Ch. 408, L. 1985; amd. Sec. 2, Ch. 477, L. 1995; amd. Sec. 1, Ch. 64, L. 1999; amd. Sec. 4, Ch. 373, L. 2017.
2023 Montana Code Annotated › Title 17. State Finance › Chapter 6. Deposits and Investments › Part 3. Montana In-State Investment › 17-6-310. Repealed

17-6-310. Repealed.
Sec. 3, Ch. 46, L. 1993.
History: (1)En. Sec. 3(3), I.M. No. 95, approved Nov. 2, 1982; (2)En. Sec. 7, Ch. 677, L. 1983; amd. Sec. 2, Ch. 124, L. 1987; amd. Sec. 8, Ch. 589, L. 1991; amd. Secs. 4, 12, Ch. 594, L. 1991; amd. Sec. 5, Ch. 12, Sp. L. January 1992; amd. Sec. 4, Ch. 354, L. 1993.
2023 Montana Code Annotated › Title 17. State Finance › Chapter 6. Deposits and Investments › Part 3. Montana In-State Investment › 17-6-311. Limitation on size of investments

17-6-311. Limitation on size of investments.
(1) Except as provided in subsection (2) and this subsection, an investment may not be made that will result in any one business enterprise or person receiving a benefit from or incurring a debt to the permanent coal tax trust fund the total current accumulated amount of which exceeds 10% of the permanent coal tax trust fund. If an investment results in any one business enterprise or person incurring a debt in excess of 6% of the permanent coal tax trust fund, at least 30% of the debt incurred for the project or enterprise for the coal tax investment that was made to the business enterprise or person must be held by a commercial lender. This subsection does not:
(a) apply to a loan made pursuant to 17-6-317; or
(b) limit the board's authority to make loans to the capital reserve account as provided in 17-6-308(2).
(2) The total amount of loans made pursuant to 17-6-309(2) may not exceed $80 million, the total amount of loans made pursuant to 17-6-317 may not exceed $70 million, and a single loan may not be less than $250,000. Except for a loan made pursuant to 17-6-317, a loan may not exceed $16,666 for each job that is estimated to be created. In determining the size of a loan made pursuant to 17-6-309(2), the board shall consider:
(a) the estimated number of jobs to be created by the project within a 4-year period from the time that the loan is made and the impact of the jobs on the state and the community where the project will be located;
(b) the long-term effect of corporate and personal income taxes estimated to be paid by the business and its employees;
(c) the current and projected ability of the community to provide necessary infrastructure for economic and community development purposes;
(d) the amount of increased salaries, wages, and business incomes of existing jobholders and businesses; and
(e) other matters that the board considers necessary.
(3) The total amount of loans made annually pursuant to 17-6-309(3) may not exceed $50 million. In determining the size of a loan, the board shall consider:
(a) the direct and indirect tax implications to the state if a coal-fired generating unit is retired prematurely;
(b) the current and projected ability of an owner to operate and maintain a coal-fired generating unit; and
(c) other matters that the board considers necessary.
History: En. Sec. 8, Ch. 677, L. 1983; amd. Sec. 4, Ch. 640, L. 1985; amd. Sec. 3, Ch. 124, L. 1987; amd. Sec. 9, Ch. 589, L. 1991; amd. Sec. 3, Ch. 2, L. 1995; amd. Sec. 3, Ch. 477, L. 1995; amd. Sec. 1, Ch. 98, L. 1997; amd. Sec. 2, Ch. 64, L. 1999; amd. Sec. 2, Ch. 4, Sp. L. May 2000; amd. Sec. 2, Ch. 487, L. 2001; amd. Sec. 2, Ch. 444, L. 2007; amd. Sec. 2, Ch. 9, L. 2011; amd. Sec. 5, Ch. 373, L. 2017; amd. Sec. 3, Ch. 245, L. 2019.
2023 Montana Code Annotated › Title 17. State Finance › Chapter 6. Deposits and Investments › Part 3. Montana In-State Investment › 17-6-312. State participation in loans

17-6-312. State participation in loans.
(1) Subject to 17-6-311, state participation in any loan to a business enterprise, except for a loan made pursuant to 17-6-317 or guaranteed by a federal agency, must be limited to 80% of the outstanding loan. The state shall participate in the security for a loan in the same proportion as the loan participation amount.
(2) State participation in loans to nonprofit corporations may qualify for the job credit interest rate reductions under 17-6-318 if the interest rate reduction passes through to a for-profit business creating the jobs.
History: En. Sec. 9, Ch. 677, L. 1983; amd. Sec. 4, Ch. 124, L. 1987; amd. Sec. 4, Ch. 2, L. 1995; amd. Sec. 4, Ch. 477, L. 1995; amd. Sec. 3, Ch. 4, Sp. L. May 2000; amd. Sec. 3, Ch. 487, L. 2001; amd. Sec. 3, Ch. 9, L. 2011.
2023 Montana Code Annotated › Title 17. State Finance › Chapter 6. Deposits and Investments › Part 3. Montana In-State Investment › 17-6-313. Prior commitment of funds

17-6-313. Prior commitment of funds.
The board may authorize the commitment of funds to financial institutions pursuant to rules adopted by the board, but the determination as to credit with respect to individual investments must be made by the financial institution and the board.
History: En. Sec. 10, Ch. 677, L. 1983; amd. Sec. 5, Ch. 124, L. 1987; amd. Sec. 4, Ch. 9, L. 2011.
2023 Montana Code Annotated › Title 17. State Finance › Chapter 6. Deposits and Investments › Part 3. Montana In-State Investment › 17-6-314. Rate of return

17-6-314. Rate of return.
Except as provided in 17-6-317, in calculating the rate of return for any Montana investment to be made from the permanent coal tax trust fund, the board shall consider the long-term benefit to the Montana economy and the additional service fee discount provided for in 17-6-319.
History: En. Sec. 11, Ch. 677, L. 1983; amd. Sec. 10, Ch. 589, L. 1991; amd. Sec. 4, Ch. 4, Sp. L. May 2000.
2023 Montana Code Annotated › Title 17. State Finance › Chapter 6. Deposits and Investments › Part 3. Montana In-State Investment › 17-6-315. Repealed

17-6-315. Repealed.
Sec. 19, Ch. 589, L. 1991.
History: En. Sec. 12, Ch. 677, L. 1983; amd. Sec. 5, Ch. 640, L. 1985; amd. Sec. 1, Ch. 102, L. 1987.
2023 Montana Code Annotated › Title 17. State Finance › Chapter 6. Deposits and Investments › Part 3. Montana In-State Investment › 17-6-316. Economic development loan -- infrastructure tax credit

17-6-316. Economic development loan -- infrastructure tax credit.
(1) A loan made pursuant to 17-6-309(2) must be used to build infrastructure, as provided for in 7-15-4288(4), such as water systems, sewer systems, water treatment facilities, sewage treatment facilities, and roads, that allows the location or creation of a business in Montana. The loan must be made to a local government or an Indian tribal government that will create the necessary infrastructure. The infrastructure may serve as collateral for the loan. The local government or Indian tribal government receiving the loan may charge fees to the users of the infrastructure. A loan repayment agreement must provide for repayment of the loan from the entity authorized to charge fees for the use of the services of the infrastructure. Loans made pursuant to 17-6-309(2) qualify for the job credit interest rate reductions under 17-6-318 if the interest rate reduction passes through to the business creating the jobs.
(2) A loan pursuant to 17-6-309(2) and this section may not be made until the board is satisfied that the condition in 17-6-309(2) will be met. If the condition contained in 17-6-309(2) is not met, any credits received pursuant to subsection (3) of this section must be returned to the state.
(3) A business that is created or expanded as the result of a loan made pursuant to 17-6-309(2) and subsection (1) of this section is entitled to a credit against taxes due under Title 15, chapter 30 or 31, for the portion of the fees attributable to the use of the infrastructure. The total amount of tax credit claimed may not exceed the amount of the loan. The credit may be carried forward for 7 tax years or carried back for 3 tax years.
History: En. Sec. 5, Ch. 2, L. 1995; En. Sec. 5, Ch. 477, L. 1995; amd. Sec. 7, Ch. 477, L. 1995; amd. Sec. 4, Ch. 359, L. 2019.
2023 Montana Code Annotated › Title 17. State Finance › Chapter 6. Deposits and Investments › Part 3. Montana In-State Investment › 17-6-318. Job credit interest rate reduction for business loan participation

17-6-318. Job credit interest rate reduction for business loan participation.
(1) A borrower who uses the proceeds of a business loan participation funded under the provisions of this part to create jobs employing Montana residents is entitled to a job credit interest rate reduction for each job created to employ a Montana resident. A borrower who uses the proceeds of a loan made pursuant to 17-6-309(2) to create jobs is entitled to a job credit interest rate reduction for each job created. The job credit interest rate reduction is equal to 0.05% for each job created to employ a Montana resident, up to a maximum interest rate reduction of 2.5%.
(2) If the salary or wage of the job created:
(a) exceeds the state's average weekly wage, as defined in 39-71-116, the amount of the job credit interest rate reduction may be increased proportionately for each increment of 25% above the state's average weekly wage to a maximum of two times the state's average weekly wage; or
(b) is less than the state's average weekly wage, as defined in 39-71-116, the job credit interest rate reduction is reduced proportionately for each 25% increment below the state's average weekly wage.
(3) A job credit interest rate reduction may not be allowed for a job created by the borrower using the proceeds of the loan for which the salary or wage is less than the minimum wage provided for in 39-3-409.
(4) A job credit may not be given unless one whole job is created.
(5) To qualify for the job credit interest rate reduction, the borrower shall provide satisfactory evidence of the creation of jobs and shall make a written application to the board through its financial institution or, in the case of a loan made pursuant to 17-6-309(2), shall make a written application directly to the board.
History: En. Sec. 17, Ch. 589, L. 1991; amd. Sec. 2, Ch. 98, L. 1997; amd. Sec. 3, Ch. 64, L. 1999; amd. Sec. 4, Ch. 487, L. 2001; amd. Sec. 2, Ch. 26, L. 2005.
2023 Montana Code Annotated › Title 17. State Finance › Chapter 6. Deposits and Investments › Part 3. Montana In-State Investment › 17-6-319. Incentive to financial institution for small business loan participation

17-6-319. Incentive to financial institution for small business loan participation.
A financial institution that originates a small business loan no larger than 0.05% of the balance of the Montana permanent coal tax trust fund at the end of the last-completed fiscal year is entitled to an additional service fee in the form of a discount equal to 0.5% of the board's participation in the loan. The board shall consider the additional service fee discount to the financial institution as part of the rate of return provided in 17-6-314.
History: En. Sec. 18, Ch. 589, L. 1991.
2023 Montana Code Annotated › Title 17. State Finance › Chapter 6. Deposits and Investments › Part 3. Montana In-State Investment › 17-6-320. Loan recipients -- notice

17-6-320. Loan recipients -- notice.
(1) If an owner of a coal-fired generating unit receives a loan in accordance with this part, the owner shall provide the board of investments and the governor of Montana with a minimum of 90 days' notice prior to filing for bankruptcy, reorganization, or other insolvency proceeding or prior to a merger, sale, or transfer, by operation of law or otherwise.
(2) A successor to the owner, whether pursuant to a bankruptcy, reorganization, or other insolvency proceeding or pursuant to a merger, sale, or transfer, by operation of law or otherwise, shall perform and satisfy all obligations of the owner pursuant to this part in the same manner and to the same extent as the owner.
History: En. Sec. 1, Ch. 373, L. 2017.
2023 Montana Code Annotated › Title 17. State Finance › Chapter 6. Deposits and Investments › Part 3. Montana In-State Investment › 17-6-321. Audits

17-6-321. Audits.
The board's books and records related to in-state investments must be audited once each fiscal year by or at the direction of the legislative auditor. The actual cost of this audit must be paid from the board's funds.
History: En. Sec. 13, Ch. 677, L. 1983; amd. Sec. 3, Ch. 308, L. 1985; amd. Sec. 45, Ch. 483, L. 2001; amd. Sec. 5, Ch. 487, L. 2001.
2023 Montana Code Annotated › Title 17. State Finance › Chapter 6. Deposits and Investments › Part 3. Montana In-State Investment › 17-6-322. Report

17-6-322. Report.
The board shall include in its annual report a section on the results of the previous year's operations of the investment in the Montana economy from the permanent coal tax trust fund, as required in 17-6-305, including:
(1) financial statements audited by independent auditors;
(2) a summary report of loan activity; and
(3) a comparison of the performance of the investments in the Montana economy in relation to the purposes contained in 17-6-303.
History: En. Sec. 14, Ch. 677, L. 1983; amd. Sec. 1, Ch. 264, L. 1987; amd. Sec. 1, Ch. 94, L. 1989; amd. Sec. 11, Ch. 589, L. 1991.
2023 Montana Code Annotated › Title 17. State Finance › Chapter 6. Deposits and Investments › Part 3. Montana In-State Investment › 17-6-324. Rulemaking authority

17-6-324. Rulemaking authority.
(1) The board may adopt rules to implement the provisions of this part and 17-6-211(2). Rules adopted by the board may include:
(a) definitions of small- and medium-sized businesses;
(b) a method of committing funds to financial institutions, including guidelines for lead private financial institutions if a consortium of private financial institutions is participating in a loan made pursuant to 17-6-317;
(c) guidelines for graduation clauses for refinancing and early payment of loans made pursuant to 17-6-317;
(d) types of service fees; and
(e) types of investments to be made.
(2) The board may also adopt procedural rules to govern its proceedings.
History: En. Sec. 16, Ch. 677, L. 1983; amd. Sec. 8, Ch. 418, L. 1985; amd. Sec. 5, Ch. 4, Sp. L. May 2000.
2023 Montana Code Annotated › Title 17. State Finance › Chapter 6. Deposits and Investments › Part 3. Montana In-State Investment › 17-6-325. Preference of Montana labor

17-6-325. Preference of Montana labor.
Any contract to construct a project financed pursuant to this part must require all contractors to give preference to the employment of bona fide Montana residents, as defined in 18-2-401, in the performance of the work on the projects if their qualifications are substantially equal to those of nonresidents. "Substantially equal qualifications" means the qualifications of two or more persons among whom the employer cannot make a reasonable determination that the qualifications held by one person are significantly better suited for the position than the qualifications held by the other persons.
History: En. Sec. 3, Ch. 653, L. 1985; amd. Sec. 7, Ch. 561, L. 1987.
2023 Montana Code Annotated › Title 17. State Finance › Chapter 6. Deposits and Investments › Part 3. Montana In-State Investment › 17-6-331. Establishment of a Montana economic development fund

17-6-331. Establishment of a Montana economic development fund.
A Montana economic development fund is created. A portion of the interest income from the permanent coal tax trust fund created in 17-6-203(6) shall be deposited in the fund as determined by the legislature. Monies, if any, appropriated by the legislature from the economic development fund shall be used only for programs consistent with the objectives in 17-6-304.
History: En. Sec. 4, I.M. No. 95, approved Nov. 2, 1982; amd. Sec. 8, Ch. 445, L. 1987.
2023 Montana Code Annotated › Title 17. State Finance › Chapter 6. Deposits and Investments › Part 3. Montana In-State Investment › 17-6-340. Repealed

17-6-340. Repealed.
Sec. 10, Ch. 17, L. 2013.
History: En. Sec. 4, Ch. 418, L. 2001; amd. Sec. 7, Ch. 1, Sp. L. May 2007; amd. Sec. 11, Ch. 377, L. 2009.
2023 Montana Code Annotated › Title 17. State Finance › Chapter 6. Deposits and Investments › Part 3. Montana In-State Investment › 17-6-345. Intermediary relending program

17-6-345. Intermediary relending program.
(1) The board may set aside an amount, not to exceed $10 million, from the in-state investment percentage provided for in 17-6-305 for the purpose of creating an intermediary relending program.
(2) Intermediary loans may be made to board-approved local economic development organizations with revolving loan programs.
(3) Each intermediary loan made pursuant to subsection (2) may not exceed $500,000.
(4) An intermediary loan made under this section may be offered only to an applicant that will pledge and use the loan funds as matching funds for the U.S. department of agriculture rural development loan program provided for in 42 U.S.C. 9812 and 9812a or other federal revolving loan programs, including but not limited to programs from the economic development administration of the U.S. department of commerce and the community development financial institution program from the U.S. department of the treasury.
History: En. Sec. 1, Ch. 183, L. 2003; amd. Sec. 1, Ch. 191, L. 2019.
2023 Montana Code Annotated › Title 17. State Finance › Chapter 6. Deposits and Investments › Part 3. Montana In-State Investment › 17-6-346. Interest rates and repayment of intermediary loan -- terms

17-6-346. Interest rates and repayment of intermediary loan -- terms.
(1) The interest rate on an intermediary loan made pursuant to 17-6-345 may not exceed 2% a year for a period of 30 years.
(2) For the first 3 years, repayment on the intermediary loan is of the interest only, and for the remainder of the term of the intermediary loan, the repayment is principal and interest.
History: En. Sec. 2, Ch. 183, L. 2003.
2023 Montana Code Annotated › Title 17. State Finance › Chapter 6. Deposits and Investments › Part 3. Montana In-State Investment › 17-6-347. Purchase of seasoned or mature loans by board

17-6-347. Purchase of seasoned or mature loans by board.
The board may purchase a portion of a seasoned or mature loan from a local economic development organization's revolving loan program.
History: En. Sec. 3, Ch. 183, L. 2003.
2023 Montana Code Annotated › Title 17. State Finance › Chapter 6. Deposits and Investments › Part 4. Microbusiness Development Act › 17-6-402. Legislative findings and purpose

17-6-402. Legislative findings and purpose.
(1) The legislature finds and declares that:
(a) it is the policy of the state to foster and encourage economic development within the state in order to promote the general welfare of the people;
(b) no program exists by which the state encourages and assists in the creation, development, and financing of businesses with fewer than 10 full-time equivalent employees and gross revenues of less than $1 million a year, which represent a significant component of and potential for growth in the state's economy; and
(c) neither the public sector nor the private sector currently satisfies the financial needs of these businesses.
(2) The purpose of this part is to create a program to encourage and assist in the creation, development, and financing of businesses with fewer than 10 full-time equivalent employees and gross revenues of less than $1 million a year.
(3) The process of certification of microbusiness development corporations and selection among competing proposals for development loans must be open and competitive and allow access to the competition to all interested communities and organizations and must provide for selecting for award of development loans those projects that are best qualified according to the criteria established under 17-6-406 through 17-6-408.
History: En. Sec. 2, Ch. 602, L. 1991; amd. Sec. 1, Ch. 31, L. 2007.
2023 Montana Code Annotated › Title 17. State Finance › Chapter 6. Deposits and Investments › Part 4. Microbusiness Development Act › 17-6-403. Definitions

17-6-403. Definitions.
As used in this part, the following definitions apply:
(1) "Certified microbusiness development corporation" means a microbusiness development corporation certified pursuant to 17-6-408.
(2) "Department" means the department of commerce provided for in 2-15-1801.
(3) "Development loan" means money loaned to a certified microbusiness development corporation by the department for the purpose of making microbusiness loans under the provisions of this part.
(4) "Microbusiness development corporation" means a nonprofit corporation organized and existing under the laws of the state to provide training, technical assistance, and access to capital for the startup or expansion of qualified microbusinesses.
(5) "Microbusiness loan" means a loan made from or guaranteed by a revolving loan fund contributed to by the microbusiness finance program.
(6) "Program" means the microbusiness finance program established in 17-6-406.
(7) "Qualified microbusiness" means a business enterprise located in the state that:
(a) produces goods or provides services and has fewer than 10 full-time equivalent employees and annual gross revenue of less than $1 million; or
(b) produces energy using an alternative renewable energy source as defined in 15-6-225.
(8) "Revolving loan fund" means a fund required to be established by a certified microbusiness development corporation that receives a development loan.
History: En. Sec. 3, Ch. 602, L. 1991; amd. Sec. 17, Ch. 591, L. 2001; amd. Sec. 3, Ch. 351, L. 2003; amd. Secs. 5, 15, Ch. 405, L. 2003; amd. Sec. 2, Ch. 31, L. 2007.
2023 Montana Code Annotated › Title 17. State Finance › Chapter 6. Deposits and Investments › Part 4. Microbusiness Development Act › 17-6-406. Microbusiness finance program -- powers and duties of department

17-6-406. Microbusiness finance program -- powers and duties of department.
There is a microbusiness finance program administered by the department. The department shall adopt rules to implement the provisions of this part, including but not limited to:
(1) establishing criteria and procedures for certifying microbusiness development corporations;
(2) establishing criteria and procedures to select from competing development loan applications and to award development loans to certified microbusiness development corporations;
(3) establishing criteria and procedures to be followed by certified microbusiness development corporations that administer revolving loan funds supported by the program;
(4) determining the amount and method of computation and payment of interest rates charged to recipients of development loans and specifying amortization schedules and other terms and conditions for development loans as may be necessary;
(5) establishing criteria for determining nonperformance and declaring default in the administration of development loans and requiring the refund of defaulted development loan funds to the microbusiness development loan account;
(6) establishing criteria for satisfactory performance in development loan administration to determine eligibility for renewal of development loans or for additional development loans;
(7) establishing guidelines for maximum and minimum interest rates that may be charged by certified microbusiness development corporations on microbusiness loans; and
(8) dividing the state into not more than 12 multicounty service regions within each of which not more than one microbusiness development corporation may be funded at any time. However, a corporation that is funded as a statewide microbusiness development corporation under 17-6-408 may offer specialized services to constituents within regions or within an Indian reservation having a funded regional microbusiness development corporation.
History: En. Sec. 4, Ch. 602, L. 1991; amd. Sec. 1, Ch. 88, L. 1993; amd. Sec. 9, Ch. 512, L. 1999.
2023 Montana Code Annotated › Title 17. State Finance › Chapter 6. Deposits and Investments › Part 4. Microbusiness Development Act › 17-6-408. Certification of microbusiness development corporations

17-6-408. Certification of microbusiness development corporations.
The department may certify:
(1) a microbusiness development corporation when it determines that the corporation:
(a) has developed a viable plan for providing training, access to financing, and technical assistance for qualified microbusinesses;
(b) has broad-based community support in a designated multicounty region of the state, as reflected, for example, by the membership of its board of directors; and
(c) has an adequate source of operating capital; or
(2) a statewide microbusiness development corporation when the department determines that the corporation meets the conditions under subsections (1)(a) and (1)(c) and, in addition:
(a) has a viable plan to provide specialized services to constituents throughout the state or within at least four Indian reservations in Montana; and
(b) does not preempt or duplicate efforts of microbusiness development corporations within local communities.
History: En. Sec. 6, Ch. 602, L. 1991; amd. Sec. 3, Ch. 88, L. 1993; amd. Sec. 11, Ch. 512, L. 1999.
2023 Montana Code Annotated › Title 17. State Finance › Chapter 6. Deposits and Investments › Part 4. Microbusiness Development Act › 17-6-409. Authority to accept funds -- funding authorization

17-6-409. Authority to accept funds -- funding authorization.
The department may accept grants, donations, and other private and public income, including payments of interest on loans made by the department under the provisions of this part and fees charged by the department. The department shall deposit all money received under this section in the economic development state special revenue account established in 90-1-205.
History: En. Sec. 8, Ch. 602, L. 1991; amd. Sec. 23, Ch. 509, L. 1995; amd. Sec. 3, Ch. 636, L. 2023.
2023 Montana Code Annotated › Title 17. State Finance › Chapter 6. Deposits and Investments › Part 4. Microbusiness Development Act › 17-6-411. Repealed

17-6-411. Repealed.
Sec. 6, Ch. 351, L. 2003.
History: En. Sec. 7, Ch. 602, L. 1991; amd. Sec. 2, Ch. 413, L. 1995.
2023 Montana Code Annotated › Title 17. State Finance › Chapter 6. Deposits and Investments › Part 5. Job Investment Act (Repealed) › 17-6-503. Repealed

17-6-503. Repealed.
Sec. 12, Ch. 307, L. 2001.
History: En. Sec. 3, Ch. 559, L. 1995; amd. Sec. 8, Ch. 549, L. 1997.
2023 Montana Code Annotated › Title 17. State Finance › Chapter 6. Deposits and Investments › Part 5. Job Investment Act (Repealed) › 17-6-509. Repealed

17-6-509. Repealed.
Sec. 12, Ch. 307, L. 2001.
History: En. Sec. 6, Ch. 559, L. 1995; amd. Sec. 9, Ch. 549, L. 1997.
2023 Montana Code Annotated › Title 17. State Finance › Chapter 6. Deposits and Investments › Part 5. Job Investment Act (Repealed) › 17-6-510. Repealed

17-6-510. Repealed.
Sec. 12, Ch. 307, L. 2001.
History: En. Sec. 7, Ch. 559, L. 1995; amd. Sec. 10, Ch. 549, L. 1997.
2023 Montana Code Annotated › Title 17. State Finance › Chapter 6. Deposits and Investments › Part 5. Job Investment Act (Repealed) › 17-6-511. Repealed

17-6-511. Repealed.
Sec. 12, Ch. 307, L. 2001.
History: En. Sec. 8, Ch. 559, L. 1995; amd. Sec. 41, Ch. 19, L. 1999.
2023 Montana Code Annotated › Title 17. State Finance › Chapter 6. Deposits and Investments › Part 6. Montana Tobacco Settlement Trust Fund › 17-6-601. Establishment -- purpose

17-6-601. Establishment -- purpose.
A Montana tobacco settlement trust fund, as provided for in Article XII, section 4, of the Montana constitution, is established to provide a permanent source of revenue to fund the costs that the state incurs in:
(1) programs for tobacco disease prevention; and
(2) providing benefits, services, or coverage of health care needs.
History: En. Sec. 1, Ch. 467, L. 2001.
2023 Montana Code Annotated › Title 17. State Finance › Chapter 6. Deposits and Investments › Part 6. Montana Tobacco Settlement Trust Fund › 17-6-602. Definitions

17-6-602. Definitions.
As used in this part, the following definitions apply:
(1) "Benefits, services, or coverage of health care needs" means the provision of health care to persons by the state through any program of benefits, services, or coverage, including income tax incentives.
(2) "Health care" has the meaning provided in 50-16-504.
(3) (a) "Programs for tobacco disease prevention" means programs of services administered by the state for the purposes of informing individuals of the health risks of tobacco use and exposure to secondhand tobacco smoke, assisting persons in the avoidance of tobacco products use, and assisting individuals in cessation of tobacco use.
(b) Programs for tobacco disease prevention include:
(i) community-based education programs;
(ii) American Indian community tobacco education programs;
(iii) general public awareness and education programs;
(iv) tobacco cessation services;
(v) chronic disease programs;
(vi) a tobacco use resource center;
(vii) special education and cessation programs to reach youth and women of childbearing age;
(viii) smokeless tobacco user programs; and
(ix) advertising issue programs.
(4) "Tobacco products" means a substance intended for human use that contains tobacco and includes but is not limited to cigarettes, cigars, smoking tobacco, and tobacco intended for use in an oral or nasal cavity.
(5) "Trust fund" means the Montana tobacco settlement trust fund authorized by Article XII, section 4, of the Montana constitution and implemented through this part.
History: En. Sec. 2, Ch. 467, L. 2001; amd. Sec. 1, I.M. No. 146, approved Nov. 5, 2002; amd. Sec. 1, Ch. 283, L. 2007.
2023 Montana Code Annotated › Title 17. State Finance › Chapter 6. Deposits and Investments › Part 6. Montana Tobacco Settlement Trust Fund › 17-6-603. Montana tobacco settlement trust fund -- state special revenue fund account

17-6-603. Montana tobacco settlement trust fund -- state special revenue fund account.
(1) Nine-tenths of the interest and income derived from the trust fund on or after January 1, 2001, must be deposited in an account in the state special revenue fund and is subject to appropriation in accordance with subsection (3). One-tenth of the interest and income derived from the trust fund must remain in the trust fund.
(2) In addition to the money required to be deposited in the trust fund as principal, the legislature may deposit additional money in the trust fund as principal.
(3) The legislature shall appropriate money from the state special revenue fund account provided for in subsection (1) for programs for tobacco disease prevention and for state programs that provide benefits, services, or coverage of health care needs.
(4) The money appropriated under this section may not be used to replace state or federal money used to fund programs for tobacco disease prevention or state programs in existence on December 31, 1999, that provide benefits, services, or coverage of health care needs.
History: En. Sec. 3, Ch. 467, L. 2001.
2023 Montana Code Annotated › Title 17. State Finance › Chapter 6. Deposits and Investments › Part 6. Montana Tobacco Settlement Trust Fund › 17-6-606. Tobacco settlement accounts -- purpose -- uses

17-6-606. Tobacco settlement accounts -- purpose -- uses.
(1) The purpose of this section is to dedicate a portion of the tobacco settlement proceeds to fund statewide programs for tobacco disease prevention designed to:
(a) discourage children from starting use of tobacco;
(b) assist adults in quitting use of tobacco; and
(c) provide funds for the children's health insurance program.
(2) An amount equal to 32% of the total yearly tobacco settlement proceeds received after June 30, 2003, must be deposited in a state special revenue account. Subject to subsection (5), the funds referred to in this subsection may be used only for funding statewide programs for tobacco disease prevention designed to prevent children from starting tobacco use and to help adults who want to quit tobacco use. The department of public health and human services shall manage the tobacco disease prevention programs and shall adopt rules to implement the programs. In adopting rules, the department shall consider the standards contained in Best Practices for Comprehensive Tobacco Control Programs--August 1999 or its successor document, published by the U.S. department of health and human services, centers for disease control and prevention.
(3) An amount equal to 17% of the total yearly tobacco settlement proceeds received after June 30, 2003, must be deposited in a state special revenue account. Subject to subsection (5), the funds referred to in this subsection may be used only for matching funds to secure the maximum amount of federal funds for the Children's Health Insurance Program Act provided for in Title 53, chapter 4, part 10.
(4) Funds deposited in a state special revenue account, as provided in subsection (2) or (3), that are not appropriated within 2 years after the date of deposit must be transferred to the trust fund.
(5) The legislature shall appropriate money from the state special revenue accounts provided for in this section for programs for tobacco disease prevention, for the programs referred to in the subsection establishing the account, and for funding the tobacco prevention advisory board.
(6) Programs funded under this section that are private in nature may be funded through contracted services.
History: En. Sec. 2, I.M. No. 146, approved Nov. 5, 2002; amd. Sec. 1, Ch. 608, L. 2003; amd. Sec. 2, Ch. 283, L. 2007; amd. Sec. 10, Ch. 486, L. 2009; amd. Sec. 2, Ch. 63, L. 2015.
2023 Montana Code Annotated › Title 17. State Finance › Chapter 6. Deposits and Investments › Part 6. Montana Tobacco Settlement Trust Fund › 17-6-610. Tobacco prevention advisory board

17-6-610. Tobacco prevention advisory board.
(1) There is a tobacco prevention advisory board. The board consists of 15 members appointed by the director of the department of public health and human services. Except for the initial appointments, each board member shall serve a 3-year term and is subject to reappointment for one succeeding term. The director shall appoint members to staggered terms, with five members serving an initial term of 1, 2, or 3 years. The initial members appointed shall draw lots to determine their term of office. The board shall terminate when tobacco settlement funds are no longer received by the state. The board shall meet at least one time each year, with the date and frequency of meetings to be determined by its presiding officer. Health care professionals and individuals are eligible to serve on the board. A board member may not have been paid by the tobacco products industry during the 10-year period preceding appointment.
(2) Members of the board are not entitled to compensation for their services, but are entitled to a mileage allowance, as provided in 2-18-503, and expenses as provided in 2-18-501 and 2-18-502.
(3) The board shall furnish advice, gather information, and perform other activities regarding the state special revenue accounts established pursuant to 17-6-606. The board may make recommendations for the use of appropriations from the state special revenue accounts.
(4) The board is attached to the department of public health and human services for administrative purposes, and the department shall provide staff support to the board.
History: En. Sec. 3, I.M. No. 146, approved Nov. 5, 2002.
2023 Montana Code Annotated › Title 17. State Finance › Chapter 6. Deposits and Investments › Part 7. Montana In-State Investment in Electrical Generation Facilities (Void) › 17-6-701. Void

17-6-701. Void.
I.R. No. 117, Nov. 5, 2002.
History: En. Sec. 1, Ch. 577, L. 2001.
2023 Montana Code Annotated › Title 17. State Finance › Chapter 6. Deposits and Investments › Part 7. Montana In-State Investment in Electrical Generation Facilities (Void) › 17-6-702. Void

17-6-702. Void.
I.R. No. 117, Nov. 5, 2002.
History: En. Sec. 2, Ch. 577, L. 2001.
2023 Montana Code Annotated › Title 17. State Finance › Chapter 6. Deposits and Investments › Part 7. Montana In-State Investment in Electrical Generation Facilities (Void) › 17-6-703. Void

17-6-703. Void.
I.R. No. 117, Nov. 5, 2002.
History: En. Sec. 3, Ch. 577, L. 2001.
2023 Montana Code Annotated › Title 17. State Finance › Chapter 6. Deposits and Investments › Part 7. Montana In-State Investment in Electrical Generation Facilities (Void) › 17-6-704. Void

17-6-704. Void.
I.R. No. 117, Nov. 5, 2002.
History: En. Sec. 4, Ch. 577, L. 2001.
2023 Montana Code Annotated › Title 17. State Finance › Chapter 6. Deposits and Investments › Part 7. Montana In-State Investment in Electrical Generation Facilities (Void) › 17-6-705. Void

17-6-705. Void.
I.R. No. 117, Nov. 5, 2002.
History: En. Sec. 5, Ch. 577, L. 2001.
2023 Montana Code Annotated › Title 17. State Finance › Chapter 6. Deposits and Investments › Part 8. Montana Housing InfrastructureRevolving Loan Fund › 17-6-801. Montana housing infrastructure revolving loan fund account

17-6-801. Montana housing infrastructure revolving loan fund account.
(1) There is a Montana housing infrastructure revolving loan fund account within the state special revenue fund type established in 17-2-102 to the credit of the board of investments. Money deposited in the account established in this section must be invested by the board of investments as provided by law.
(2) The principal of the account may only be appropriated by a vote of two-thirds of the members of each house of the legislature.
History: En. Sec. 10, Ch. 774, L. 2023.
2023 Montana Code Annotated › Title 17. State Finance › Chapter 6. Deposits and Investments › Part 8. Montana Housing InfrastructureRevolving Loan Fund › 17-6-802. Purpose

17-6-802. Purpose.
The purpose of the loans made and the bonds or other securities issued and purchased pursuant to this part are:
(1) to increase home ownership and provide more long-term rental opportunity;
(2) to increase housing supply and offer diverse housing types to meet the needs of population growth; and
(3) to create partnerships between the state, local governments, private sector developers, and applicants for residential development to finance necessary infrastructure for housing.
History: En. Sec. 11, Ch. 774, L. 2023.
2023 Montana Code Annotated › Title 17. State Finance › Chapter 6. Deposits and Investments › Part 8. Montana Housing InfrastructureRevolving Loan Fund › 17-6-803. Terms

17-6-803. Terms.
The total amount of loans made to an entity for an infrastructure project pursuant to 17-6-805(1) may not exceed:
(1) $1 million; or
(2) 50% of the projected project cost.
History: En. Sec. 12, Ch. 774, L. 2023.
2023 Montana Code Annotated › Title 17. State Finance › Chapter 6. Deposits and Investments › Part 8. Montana Housing InfrastructureRevolving Loan Fund › 17-6-804. Eligibility -- priority

17-6-804. Eligibility -- priority.
(1) For the costs of an infrastructure project to be eligible to be paid by the proceeds of a loan or bonds or other securities of an eligible government unit as defined in 17-5-1604, the infrastructure project must provide for residential development at a minimum gross density of 10 units for each acre.
(2) Lending of at least $7 million of available funds must be prioritized to counties that have a population of less than 15,000 inhabitants that are located within a 30-mile radius of a state-owned facility that, on an annual average, houses at least 100 state inmates or behavioral health patients, and the state-owned facility is located in a county that has a population that does not exceed 15,000 inhabitants.
History: En. Sec. 13, Ch. 774, L. 2023.
2023 Montana Code Annotated › Title 17. State Finance › Chapter 6. Deposits and Investments › Part 8. Montana Housing InfrastructureRevolving Loan Fund › 17-6-805. Financing -- deed restrictions

17-6-805. Financing -- deed restrictions.
(1) The board of investments may make loans from the account established in 17-6-801 to an eligible government unit as defined in 17-5-1604 or an applicant for residential development to cover the costs of demolition or expanding or extending water, wastewater, storm water, street, road, curb, gutter, and sidewalk infrastructure to serve new or rehabilitated residential development.
(2) The board of investments may purchase up to 50% of a bond or other security issued in accordance with state law by an eligible government unit as defined in 17-5-1604 to cover all or a portion of costs of expanding or extending water, wastewater, storm water, street, road, curb, gutter, and sidewalk infrastructure to serve new or rehabilitated residential development at an interest rate to be determined by the board of investments as an investment of the account established in 17-6-801.
(3) The board of investments shall:
(a) establish the terms and conditions of the loan, including the interest rate of the loan, with a term not to exceed 20 years;
(b) if an eligible government unit is the entity seeking a loan or issuing a bond or other security, require that the eligible government unit waive all impact fees for the developer or the amount of impact fees up to the amount of the loan or bond or other security, whichever amount is smaller;
(c) if an applicant for residential development is the entity seeking a loan, require that the applicant pay all impact fees due to the local government or the amount of impact fees up to the amount of the loan, whichever amount is smaller; and
(d) set policy requiring that housing built using infrastructure funded in part by a security pursuant to this section must provide for provisions to preserve long-term affordability of the housing that runs with the property for the term of the security.
(4) The board of investments shall include the amounts loaned and the status of all loans in the report required in 17-5-1650.
History: En. Sec. 14, Ch. 774, L. 2023.
2023 Montana Code Annotated › Title 17. State Finance › Chapter 7. Budgeting and Appropriations › Part 1. Budget Systems and Program Plans › 17-7-101. Short title

17-7-101. Short title.
This part shall be known and may be cited as the "Budget Act".
History: En. Sec. 1, Ch. 205, L. 1919; re-en. Sec. 294, R.C.M. 1921; re-en. Sec. 294, R.C.M. 1935; amd. Sec. 29, Ch. 326, L. 1974; R.C.M. 1947, 79-1001.
2023 Montana Code Annotated › Title 17. State Finance › Chapter 7. Budgeting and Appropriations › Part 1. Budget Systems and Program Plans › 17-7-103. Governor chief budget officer -- appointment of budget director

17-7-103. Governor chief budget officer -- appointment of budget director.
(1) The governor shall be the chief budget officer of the state and shall appoint a budget director who shall hold office at the pleasure of the governor and perform the duties assigned by law or by the governor.
(2) The budget director may appoint a chief assistant and may employ such other personnel as may be necessary to carry out the provisions of this chapter.
History: (1)En. Sec. 1, Ch. 158, L. 1959; amd. Sec. 1, Ch. 101, L. 1969; amd. Sec. 1, Ch. 42, L. 1974; amd. Sec. 1, Ch. 282, L. 1974; amd. Sec. 8, Ch. 61, L. 1977; Sec. 79-1012, R.C.M. 1947; (2)En. Sec. 5, Ch. 158, L. 1959; amd. Sec. 5, Ch. 282, L. 1974; Sec. 79-1016, R.C.M. 1947; R.C.M. 1947, 79-1012, 79-1016(part).
2023 Montana Code Annotated › Title 17. State Finance › Chapter 7. Budgeting and Appropriations › Part 1. Budget Systems and Program Plans › 17-7-104. Repealed

17-7-104. Repealed.
Sec. 1, Ch. 432, L. 1979.
History: En. 79-1012.2 by Sec. 2, Ch. 460, L. 1975; R.C.M. 1947, 79-1012.2.
2023 Montana Code Annotated › Title 17. State Finance › Chapter 7. Budgeting and Appropriations › Part 1. Budget Systems and Program Plans › 17-7-105. Repealed

17-7-105. Repealed.
Sec. 1, Ch. 432, L. 1979.
History: En. 79-1012.3 by Sec. 3, Ch. 460, L. 1975; R.C.M. 1947, 79-1012.3.
2023 Montana Code Annotated › Title 17. State Finance › Chapter 7. Budgeting and Appropriations › Part 1. Budget Systems and Program Plans › 17-7-106. Repealed

17-7-106. Repealed.
Sec. 1, Ch. 432, L. 1979.
History: En. 79-1020 by Sec. 5, Ch. 460, L. 1975; R.C.M. 1947, 79-1012.5.