Bill
LC 3714
Overview: Bill Number: LC 3714, Title: Generally provide funding for affordable housing in gateway communities, Status: (LC) Draft Died in Process, Introduced: December 17, 2024Pur
Overview: Bill Number: LC 3714, Title: Generally provide funding for affordable housing in gateway communities, Status: (LC) Draft Died in Process, Introduced: December 17, 2024
Purpose and Intent: The primary goal of this bill is to establish a new state funding program to support the development of affordable housing in Montana's "gateway communities" - areas that serve as entry points to popular outdoor recreation destinations and national parks. The legislation aims to address the growing housing affordability crisis in these communities, which has been exacerbated by rising costs and limited supply.
Key Provisions:
- Creates the Gateway Communities Affordable Housing Fund, a dedicated source of state funding for affordable housing projects
- Allocates $25 million in initial seed money to capitalize the fund
- Establishes eligibility criteria and application process for local governments and nonprofit developers to access funding
- Requires funded projects to maintain long-term affordability through deed restrictions or other mechanisms
- Provides tax credits and other incentives to encourage private investment in affordable housing
Affected Parties and Impacts:
- Residents of gateway communities who struggle to find affordable housing options
- Local governments in gateway areas seeking to address housing shortages
- Nonprofit and for-profit developers of affordable housing projects
- Businesses and employers in gateway communities that rely on a stable, local workforce
Procedural and Timeline Considerations:
This bill was introduced in the 2024 legislative session but did not advance past the draft stage and ultimately died in the process. Future efforts to provide state funding for affordable housing in gateway communities would likely need to be reintroduced in a subsequent session.
Compiled from official sources — confirm details with the bill’s official record.
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