All Roll Calls
Yes: 433 • No: 359
MontanaHB 92469th Legislature, Regular Session (2025)HouseWALLET
Generally revise state finance laws
Sponsored By: Llew Jones (Republican)
Became Law
State Finance
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Bill Overview
Analyzed Economic Effects
13 provisions identified: 10 benefits, 1 costs, 2 mixed.
One-time funds for trust and radios
By June 30, 2023, the treasurer transfers $125 million into the new trust account and $18.6 million to the statewide public safety communications system. These one‑time moves fund long‑term growth and public safety radios.
More state money for housing
Beginning July 1, 2024, the state moves money from the debt and liability free account. Up to $115 million total repays the coal trust’s outstanding loans and funds housing programs. $89 million goes first to the permanent coal tax trust, adjusted to match loans owed. $26 million goes to the Montana housing trust, adjusted for program balances measured July 30, 2025. On July 1, 2025, another $10 million moves into the housing trust.
Employers pay more into pensions
School districts and state agencies must make extra pension payments. For teachers, the add‑on is 2.27% of payroll starting July 1, 2024, then rises 0.1 point a year after June 30, 2027 until it reaches 4.27% after June 30, 2047. For other public employees, the add‑on is 2.0% on July 1, 2024, rising 0.1 point a year after June 30, 2027 until it reaches 4.0% after June 30, 2047. The retirement board reviews these schedules each year. It can lower or end the extras when funding is strong (for PERS: at least 90% funded and under 15‑year payoff with the benefit adjustment at its cap) and raise them back if funding weakens (80% or less funded and over 20‑year payoff). Any change takes effect the next July.
New state trust funds and safeguards
The law creates the Montana growth and opportunity trust. From FY2028 through FY2035, 35% of volatile revenue flows to the trust each year in two payments; starting in FY2036 it is 20% a year. Transfers split 50% to a distribution side and 50% to a reinvestment side. Reinvestment sends 80% to pensions until $1,000,000,000 and 20% to a housing trust until $500,000,000; any remainder stays invested. Interest from the distribution side funds disaster resiliency (up to $15 million/year), property tax relief (up to $20 million), water (up to $10 million), bridges (up to $10 million), and early childhood (up to $10 million), with leftover interest going to long‑range building. The state also makes large transfers in FY2025 and scheduled transfers in FY2026–FY2027 to the trust, pensions, and housing. Safeguards can cut transfers by up to 50% when fund balances are low. Spending the trust’s corpus counts as state debt and needs a two‑thirds vote. An old pension special‑revenue account is repealed.
New child care board and grants
The law creates a 10‑member early childhood board at DPHHS. It funds grants for provider support, worker training, quality upgrades, lower‑cost care, before‑ and after‑school care, innovation, and emergency help. Money can only pay for board‑approved child care programs, not other DPHHS costs. The board keeps admin costs low, may accept gifts that can earn the Montana endowment tax credit, and reports by September 1 each year.
More state housing and veterans loans
The state uses $65 million or more for loans to build or keep affordable rental homes. Loans must be first‑lien, cover no more than 95% of costs, charge a minimum interest tied to coal trust earnings, and projects still pay property taxes. The state also backs at least $50 million for a veterans’ first‑time homebuyer program. Loans are bought from banks, charge 1% below the FNMA delivery rate or 1% below the board’s lowest rate, and repayments return to the housing trust.
State property tax help for homeowners
The state lowers property taxes for certified primary homeowners. You must apply by March 1 for that tax year, live there at least 7 months, and the home’s value must be $1,000,000 or less. If the state account tops $50,000,000, the state sets a per‑home amount and sends counties money by August 31; the credit shows on your bill. You can ask for a review within 30 days and appeal to the county and then state tax appeal boards. Filing a false claim can be a crime and can bar you for up to 10 years. State aid to counties is not counted when setting the mill cap.
Trust earnings now bolster pensions
The state now combines interest from the trust’s distribution portion and its pension fund and splits it 50/50. Half goes to distribution accounts by their set percentages, and half goes to the pension fund. If teachers’ or public employees’ plans earn less than the assumed rate for two straight years, the treasurer must transfer money from the trust’s pension portion within 30 days of certification. Each transfer can be no more than 25% of that pension portion and only what is needed to meet the assumed return. No more than $300 million can move in any two‑year period.
Inflation add-on to local mill levies
Local governments can set mills to raise last year’s property taxes plus an inflation add‑on. The add‑on equals half of the average CPI change over the last three years. The Department of Revenue calculates the CPI number.
Pay rates for tax appeal boards
County tax appeal board members get $45 for up to 4 hours of work a day or $90 for more than 4 hours. Travel costs are reimbursed. Pay and travel are covered when hearing appeals or attending state‑called meetings.
Clearer property tax notices and warnings
Your tax notice now shows taxable value, total mills, and an itemized amount by levy. It also shows your state property tax help for a certified primary home. The county may post the detailed breakdown online. If you are behind, the treasurer must mail a warning at least two weeks before a tax lien and list all aid programs. Classification and appraisal notices must list help programs, last year’s mills, the prior reappraisal value, and explain increases over 10%. You can check a box to request an informal review.
Funding for water, bridges, child care
Starting July 1, 2025, the state gives $7.5 million each to water development (DNRC), local bridges (DOT), and early childhood (DPHHS). Starting July 1, 2026, each gets $10 million, and lawmakers intend this to be ongoing base funding. The Better Local Bridge fund gives grants to local governments, with at least a 20% local match and up to 5% for DOT admin. Also, 10% of interest earned in the water development account goes to water storage pilot projects and dam inspections.
More earnings to water storage
The state sends 90% of investment earnings from the water development account to the water storage account and 10% to the natural resources projects account. This funds water storage and resource projects, not direct payments to households.
Sponsors & Cosponsors
Sponsor
Llew Jones
Republican • House
Cosponsors
There are no cosponsors for this bill.
Roll Call Votes
House vote • 4/29/2025
Do Concur
Yes: 60 • No: 39
House vote • 4/28/2025
Do Concur
Yes: 63 • No: 37
House vote • 4/24/2025
Do Concur
Yes: 27 • No: 23
House vote • 4/22/2025
AMD-HB0924.002.016 Flowers D/PASS
Yes: 28 • No: 22
House vote • 4/22/2025
AMD-HB0924.002.018 Glimm D/PASS
Yes: 23 • No: 27
House vote • 4/22/2025
AMD-HB0924.002.019 Glimm D/PASS
Yes: 25 • No: 25
House vote • 4/22/2025
Do Concur As Amended
Yes: 27 • No: 23
House vote • 4/22/2025
AMD-HB0924.002.013 Kassmier D/PASS
Yes: 26 • No: 23
House vote • 4/22/2025
AMD-HB0924.002.015 Mr. President D/PASS
Yes: 22 • No: 28
House vote • 4/18/2025
Take HB 924 from Comm-Kassmier
Yes: 27 • No: 23
House vote • 4/8/2025
Do Pass
Yes: 53 • No: 44
House vote • 4/7/2025
Do Pass
Yes: 52 • No: 45
Actions Timeline
Chapter Number Assigned
6/20/2025HouseSigned by Governor
6/19/2025HouseTransmitted to Governor
6/10/2025HouseSigned by President
6/9/2025SenateSigned by Speaker
6/2/2025HouseReturned from Enrolling
4/30/2025HouseSent to Enrolling
4/29/2025House3rd Reading Passed as Amended by Senate
4/29/2025House2nd Reading Senate Amendments Concurred
4/28/2025HouseReturned to House with Amendments
4/24/2025Senate3rd Reading Concurred
4/24/2025SenateMotion Failed
4/22/2025Senate2nd Reading Concurred as Amended
4/22/2025Senate2nd Reading Motion to Amend Failed
4/22/2025Senate2nd Reading Motion to Amend Failed
4/22/2025Senate2nd Reading Motion to Amend Carried
4/22/2025Senate2nd Reading Motion to Amend Failed
4/22/2025Senate2nd Reading Motion to Amend Carried
4/22/2025SenateTaken from Committee; Placed on 2nd Reading
4/18/2025SenateRevised Fiscal Note Printed
4/14/2025HouseHearing
4/14/2025SenateRevised Fiscal Note Signed
4/11/2025HouseRevised Fiscal Note Received
4/11/2025HouseReferred to Committee
4/10/2025SenateFirst Reading
4/9/2025Senate
Bill Text
Enrolled
4/29/2025
As Amended (Version 3)
4/28/2025
As Amended (Version 2)
4/3/2025
Introduced
3/29/2025