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MontanaHB 869th Legislature, Regular Session (2025)House

Renewable resource bonds and loans

Sponsored By: John Fitzpatrick (Republican)

Signed by Governor

Appropriations, Coal Tax Fund PrincipalAppropriationsDebt, Creation of StateState FinanceWater

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Bill Overview

Analyzed Economic Effects

2 provisions identified: 1 benefits, 0 costs, 1 mixed.

Coal tax bonds fund water projects

Beginning July 1, 2025, the state can issue up to $121.2 million in coal severance tax bonds for the biennium, with up to $12.12 million set aside as a reserve. Bond proceeds go to DNRC to finance the projects named in this law. Earnings on bond funds before loans are completed first pay bond debt; extra earnings go to the natural resources projects state special revenue account (15-38-302). Loan repayments are pledged to the state’s debt service account to pay the bonds. When a state entity receives a loan, the same amount is appropriated to it for the 2025–27 biennium.

Low rate state loans for water projects

Beginning July 1, 2025, the state lets DNRC lend to the listed local governments and districts for named water and dam projects. Examples include Willow Creek Dam ($14 million), Painted Rocks Dam Phase 1 ($15 million), Fort Shaw Simms Creek Siphon ($5.18 million), and other irrigation projects. Projects approved in 2023 that missed a deadline are reauthorized, such as Greenfields Hydropower ($1.5 million) and the St. Mary’s Milk River beneficiaries’ share ($40 million). Loans carry 3.0% or the state bond rate, whichever is lower, for up to 30 years, and rates track the state bond rate unless lawmakers later set a lower rate. Money is disbursed only after DNRC approves the scope and budget, other funds are committed, required conditions are met, and a loan agreement is signed. Sponsors may have to pay their share of bond issuance and DNRC administrative costs. DNRC can also make, buy, or sell the loans and related notes by private negotiated sale, including at a discount.

Sponsors & Cosponsors

Sponsor

  • John Fitzpatrick

    Republican • House

Cosponsors

  • Ellie Boldman

    Democrat • Senate

Roll Call Votes

All Roll Calls

Yes: 283 • No: 11

Senate vote • 4/14/2025

Do Concur

Yes: 48 • No: 0

Senate vote • 4/12/2025

Do Concur

Yes: 50 • No: 0

House vote • 3/1/2025

Do Pass

Yes: 91 • No: 6

House vote • 2/28/2025

Do Pass

Yes: 94 • No: 5

Actions Timeline

  1. Chapter Number Assigned

    5/8/2025House

  2. Signed by Governor

    5/5/2025House

  3. Transmitted to Governor

    4/25/2025House

  4. Signed by President

    4/25/2025Senate

  5. Signed by Speaker

    4/23/2025House

  6. Returned from Enrolling

    4/15/2025House

  7. Sent to Enrolling

    4/15/2025House

  8. Returned to House

    4/14/2025Senate

  9. 3rd Reading

    4/14/2025Senate

  10. 2nd Reading

    4/12/2025Senate

  11. Committee Report

    4/2/2025Senate

  12. Committee Executive Action

    4/1/2025Senate

  13. Hearing

    3/20/2025Senate

  14. Referred to Committee

    3/4/2025Senate

  15. 1st Reading

    3/3/2025Senate

  16. 3rd Reading

    3/1/2025House

  17. 2nd Reading

    2/28/2025House

  18. Committee Report

    2/25/2025House

  19. Committee Executive Action

    2/24/2025House

  20. Hearing

    2/18/2025House

  21. Hearing

    1/21/2025House

  22. Fiscal Note Printed

    1/7/2025House

  23. Fiscal Note Signed

    1/7/2025House

  24. Fiscal Note Received

    1/7/2025House

  25. 1st Reading

    1/6/2025House

Bill Text

  • Enrolled

    4/15/2025

    PDF

  • Introduced

    12/11/2024

    PDF

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