Housing Act
Montana · Planning, Research, and Development · §§ 90-6-101 to 90-6-151 · 48 sections
Overview
This act governs state-level financing of housing development. It vests a governing board with authority to adopt rules, hold and expend funds, review and approve financing for housing developments, and supervise the housing sponsors it assists, and it authorizes that board to raise capital by issuing bonds and notes — with accompanying provisions on trust indentures, pledges, reserve funds, refunding, tax treatment of the obligations, audits, and the limits of state and personal liability for the debt. It also creates a dedicated housing fund, drawing on designated funding sources, from which loans are made to eligible applicants in coordination with other housing programs.
Editorial summary generated from the text of this act. It is not part of the statute — read the sections below for the operative language.
Sections covered
- Mont. Code Ann. § 90-6-101Short title
- Mont. Code Ann. § 90-6-102Legislative declaration
- Mont. Code Ann. § 90-6-103Definitions
- Mont. Code Ann. § 90-6-104General powers of the board
- Mont. Code Ann. § 90-6-105Meetings and acts of the board
- Mont. Code Ann. § 90-6-106Adoption of rules
- Mont. Code Ann. § 90-6-107Deposit and expenditure of funds
- Mont. Code Ann. § 90-6-108Financing programs of the board
- Mont. Code Ann. § 90-6-109Procedure prior to financing of housing developments
- Mont. Code Ann. § 90-6-110Supervision of housing sponsors
- Mont. Code Ann. § 90-6-111Bonds and notes
- Mont. Code Ann. § 90-6-112Provision of bond resolutions
- Mont. Code Ann. § 90-6-113Validity of pledge
- Mont. Code Ann. § 90-6-114Personal liability
- Mont. Code Ann. § 90-6-115Purchase of notes and bonds -- cancellation
- Mont. Code Ann. § 90-6-116Trust indenture
- Mont. Code Ann. § 90-6-117Negotiability of bonds
- Mont. Code Ann. § 90-6-118Signatures of board members
- Mont. Code Ann. § 90-6-119Reserve funds and appropriations
- Mont. Code Ann. § 90-6-120Maintenance of capital reserve account
- Mont. Code Ann. § 90-6-121Refunding obligations -- issuance
- Mont. Code Ann. § 90-6-122Refunding obligations -- sale
- Mont. Code Ann. § 90-6-123Credit of state not pledged
- Mont. Code Ann. § 90-6-124Annual audit
- Mont. Code Ann. § 90-6-125Tax exemption of bonds
- Mont. Code Ann. § 90-6-126Pledge of the state
- Mont. Code Ann. § 90-6-127Allocation of state limit
- Mont. Code Ann. § 90-6-128through 90-6-130 reserved
- Mont. Code Ann. § 90-6-131Legislative declaration
- Mont. Code Ann. § 90-6-132Definitions
- Mont. Code Ann. § 90-6-133Housing Montana fund -- administration
- Mont. Code Ann. § 90-6-134Housing Montana fund -- loan capital restricted to interest on principal -- eligible applicants
- Mont. Code Ann. § 90-6-135Coordination with other programs
- Mont. Code Ann. § 90-6-136Administrative rules
- Mont. Code Ann. § 90-6-137Alternate funding source for housing loans -- use of Montana housing trust within Montana growth and opportunity trust
- Mont. Code Ann. § 90-6-138Coal board fund
- Mont. Code Ann. § 90-6-139and 90-6-140 reserved
- Mont. Code Ann. § 90-6-141Short title
- Mont. Code Ann. § 90-6-142Purpose
- Mont. Code Ann. § 90-6-143Definitions
- Mont. Code Ann. § 90-6-144Montana community reinvestment plan
- Mont. Code Ann. § 90-6-145Montana community reinvestment plan account
- Mont. Code Ann. § 90-6-146Community reinvestment organizations
- Mont. Code Ann. § 90-6-147Community reinvestment organization requirements
- Mont. Code Ann. § 90-6-148State workforce housing incentive to community reinvestment organizations
- Mont. Code Ann. § 90-6-149Use of state trust lands for attainable housing
- Mont. Code Ann. § 90-6-150Montana housing trust
- Mont. Code Ann. § 90-6-151Exemption from environmental review
Enacted in other states
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