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69th Legislature 2025 HB 876.1
- 1 - Authorized Print Version – HB 876
1 HOUSE BILL NO. 876
2 INTRODUCED BY J. FITZPATRICK, C. KEOGH
3
4 A BILL FOR AN ACT ENTITLED: “AN ACT CREATING THE SAWMILL REVITALIZATION SPECIAL
5 REVENUE ACCOUNT; AUTHORIZING THE BOARD OF INVESTMENTS TO PROVIDE LOANS TO PARTIES;
6 PROVIDING AN APPROPRIATION; AND PROVIDING AN EFFECTIVE DATE AND A TERMINATION DATE.”
7
8 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MONTANA:
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10 NEW SECTION. Section 1. (1) There is a sawmill
11 revitalization special revenue account within the state special revenue fund established in 17-2-102.
12 (2) Before June 30, 2025, the state treasurer shall transfer $6 million from the big sky economic
13 development fund to the sawmill revitalization account.
14 (3) The board of investments shall administer money deposited in the account in accordance with
15 the Montana In-State Investment Act, Title 17, chapter 6, part 3.
16 (4) The board shall make loans at an interest rate not to exceed 3% from this account to parties
17 with the capacity to revitalize a closed sawmill and return it to commercial operation, with:
18 (a) first priority given to an applicant wishing to revitalize a sawmill closed during the 12 months
19 preceding January 1, 2025; and
20 (b) second priority given to an applicant wishing to revitalize a sawmill closed more than 12 months
21 but less than 36 months before January 1, 2025.
22
23 NEW SECTION. Section 2. (1) There is appropriated $6 million from the sawmill
24 revitalization account in [section 1] to the board of investments for the fiscal year ending June 30, 2026, to
25 provide loans to parties with the capacity to revitalize a closed sawmill and return it to commercial operation
26 pursuant to [this act].
27 (2) Money from this appropriation that is not spent during the biennium must revert to the big sky
28 economic development fund. ****
69th Legislature 2025 HB 876.1
- 2 - Authorized Print Version – HB 876
1
2 NEW SECTION. Section 3. [Section 1] is intended to be codified as an
3 integral part of Title 90, chapter 1, and the provisions of Title 90, chapter 1, apply to [section 1].
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5 NEW SECTION. Section 4. [This act] is effective July 1, 2025.
6
7 NEW SECTION. Section 5. [This act] terminates December 31, 2026.
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