Montana Legislature Introduces House Bill No. 643 Introduced to Create a State-owned Bank

Montana Legislature Introduces House Bill No. 643 Introduced to Create a State-owned Bank • 2011

Sponsor: J. Read

BILL NUMBER: House Bill No. 643

A BILL FOR AN ACT ENTITLED: “AN ACT CREATING A STATE BANK OF MONTANA AS A NEW AGENCY WITHIN STATE GOVERNMENT; PROVIDING DUTIES FOR THE STATE BANK; CREATING A STATE DEBT; EXEMPTING THE BANK PRESIDENT FROM THE STATE PAY CLASSIFICATION SYSTEM; REVISING DISTRIBUTION OF INTEREST INCOME ON COAL SEVERANCE TAX COLLECTIONS AND THE COAL SEVERANCE TAX TRUST FUND; REVISING DISTRIBUTION OF VOLUME CAP BONDS; REVISING DUTIES OF THE DEPARTMENT OF COMMERCE, THE BOARD OF HOUSING, THE MONTANA FACILITY FINANCE AUTHORITY, THE GROWTH THROUGH AGRICULTURE PROGRAM, AND VARIOUS ECONOMIC DEVELOPMENT PROGRAMS; PROVIDING FOR $15 MILLION IN REVENUE BONDS FOR STARTUP FINANCING; PROVIDING FOR A TRANSITION FROM GRANTS TO LOANS FOR THE TREASURE STATE ENDOWMENT FUND, THE TREASURE STATE WATER FUND, AND THE ECONOMIC DEVELOPMENT FUND; PROVIDING A TRANSITION FOR THE BONDING AUTHORITY OF THE BOARD OF HOUSING AND THE MONTANA FACILITY FINANCE AUTHORITY; PROVIDING RULEMAKING AUTHORITY; PROVIDING A STATUTORY APPROPRIATION.

Bill Text: House Bill No. 643 Text
Bill Text (pdf): House Bill No. 643 Text (pdf)

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