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SB 458

Revise commercial property assessed capital enhancement program laws

2025 Regular Session Introduced by Ken Bogner

SB 458 modifies Montana's PACE program rules for commercial property sustainability financing, balancing lender protections with property owner access to capital improvement assessments.

Chapter Number Assigned
#economicdevelopment #planninganddevelopment
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Bill Summary · SB 458

Legislative bill overview

SB 458 revises Montana's Commercial Property Assessed Capital Enhancement (PACE) program laws, which allow property owners to finance energy efficiency, renewable energy, and water conservation improvements through special assessments on their property tax bills. The bill modifies the rules governing how these programs operate, including provisions related to assessment procedures, lender protections, and program administration.

Why is this important

PACE programs represent a significant financing mechanism for commercial energy upgrades and sustainability improvements, affecting both property owners seeking to fund renovations and lenders holding mortgages on these properties. Changes to PACE program rules can influence property tax assessment practices, mortgage underwriting standards, and the accessibility of capital for green building improvements across Montana's commercial real estate market.

Potential points of contention

  • Lender protection vs. property owner accessibility: Revisions may strengthen lender notification and consent requirements, which protects mortgage holders but could make PACE financing more difficult or expensive for property owners
  • Assessment transparency and due process: Changes to assessment procedures may affect how thoroughly property owners understand their obligations or how disputes are resolved
  • Program administration costs: Modifications to program structure could shift administrative burdens and costs between local governments, property owners, and participating lenders

Compiled from official sources — confirm details with the bill’s official record.

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