Bill
LC 1290
Overview: Bill Number: LC 1290, Title: Revise bond and levy laws, Status: (LC) Draft Died in Process, Introduced: November 12, 2024Purpose and Intent: The main goal of this bill is
Overview: Bill Number: LC 1290, Title: Revise bond and levy laws, Status: (LC) Draft Died in Process, Introduced: November 12, 2024
Purpose and Intent: The main goal of this bill is to revise the laws governing the use of bonds and levies by local governments in Montana. The bill aims to provide more flexibility and options for local communities to finance infrastructure, public services, and other local needs.
Key Provisions:
- Allows local governments to use general obligation bonds for a wider range of purposes, including economic development projects and public-private partnerships
- Increases the maximum term for general obligation bonds from 20 years to 30 years
- Permits local governments to seek voter approval for bond measures on a primary election ballot, in addition to general elections
- Streamlines the process for local governments to renew existing levies without a new vote
Affected Parties and Impacts:
- Local governments (cities, counties, school districts) would have more financing tools and flexibility to address local needs
- Taxpayers could see changes in the timing and frequency of bond and levy votes, as well as potential impacts on property tax rates
Procedural and Timeline Considerations:
The bill is currently in the draft (LC) stage and has not been formally introduced in the legislature. If introduced, it would need to go through the full 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.
Sign in to ask a question.
