Bill
LC 1362
Overview: Bill Number: LC 1362, Title: Generally revise economic development laws, Status: (LC) Draft Died in Process, Introduced: November 14, 2024Purpose and Intent: The main goa
Overview: Bill Number: LC 1362, Title: Generally revise economic development laws, Status: (LC) Draft Died in Process, Introduced: November 14, 2024
Purpose and Intent: The main goal of this bill is to revise and update Montana's economic development laws to better support business growth, job creation, and overall economic prosperity in the state. The bill aims to streamline processes, provide additional incentives and resources, and modernize the state's approach to fostering a thriving business environment.
Key Provisions:
- Establish a new "Office of Economic Development" to coordinate and oversee the state's economic development efforts
- Expand tax credit and grant programs for businesses investing in job-creating projects and infrastructure
- Simplify permitting and regulatory processes for certain business activities
- Increase funding for workforce training and development initiatives
- Create a "Montana Innovation Fund" to support entrepreneurship and technology-based startups
Affected Parties and Impacts:
- Businesses of all sizes operating in or looking to expand to Montana
- Entrepreneurs and startups seeking to grow their operations in the state
- State and local economic development agencies and organizations
- Montana residents who would benefit from new job opportunities and a strengthened economy
Procedural and Timeline Considerations: This bill is currently in the draft stage and has not yet been formally introduced in the legislature. If introduced, it would need to go through the standard legislative process, including committee hearings and votes in both the House and Senate, before potentially being signed into law by the governor.
Compiled from official sources — confirm details with the bill’s official record.
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