HB 876: Sawmill revitalization act - Montana

HB0876_X(2).pdf → HB0876_X(3).pdf · 3 edits

MINOR

The bill was finalized and enrolled, removing draft deletion markers and formatting inconsistencies. Substantively, the interest rate for sawmill revitalization loans was increased from 3% to 4%, and the priority criteria for applicants were simplified to remove specific time-based thresholds for when a mill closed. The funding amount of $6 million and the termination date of June 30, 2027, remain unchanged.

Scope change

The scope of the bill remains focused on sawmill revitalization, but the eligibility criteria for loan priority were broadened by removing strict time limits on when a mill closed.

REQUIREMENT

The interest rate for loans to revitalize closed sawmills was increased from 3% to 4%.

ELIGIBILITY

Specific time-based priority rules for loan applicants (e.g., mills closed within 12 months vs. 12-36 months) were removed, simplifying the criteria to a general capacity to revitalize a mill.

TECHNICAL

Draft deletion markers and redundant text indicating removed sections were cleaned up to reflect the final enrolled version of the bill.

HB0876_3(4).pdf → HB0876_X.pdf · 4 edits

MODERATE

The bill was finalized as an enrolled version, moving from a draft to a certified legislative text. The most significant substantive change is the shift in the effective date from July 1, 2025, to 'on passage and approval,' allowing the law to take effect immediately upon signing. Additionally, the termination date was updated to June 30, 2027, and minor formatting corrections were applied to section numbers and fund account names.

Scope change

The bill's scope regarding the sawmill revitalization program remains unchanged, but the timeline for implementation has accelerated by making the law effective immediately upon approval.

TIMELINE

The effective date was changed from July 1, 2025, to 'on passage and approval,' meaning the law becomes active immediately when signed.

The termination date for the program was updated from December 31, 2026, to June 30, 2027.

TECHNICAL

Section numbering was corrected to align with standard legislative formatting, and fund account names were standardized to their official titles.

Certification signatures and official enrollment text were added to indicate the bill has passed both chambers and is ready for the governor's signature.

HB0876_2(13).pdf → HB0876_3.pdf · 1 edit

MINOR

The bill number was updated from HB 876.2 to HB 876.3, indicating a revision or new version of the legislation. The document header and page numbering were also adjusted to reflect this new version. No substantive policy changes, such as funding amounts, eligibility criteria, or new requirements, were identified in the provided text.

TECHNICAL

The bill identifier was changed from HB 876.2 to HB 876.3, and associated page headers and footers were updated to match the new version.

HB0876_2(4).pdf → HB0876_2(5).pdf · 2 edits

MINOR

The bill includes minor formatting adjustments to section numbers and a critical increase in the maximum interest rate for loans from the sawmill revitalization account from 3% to 4%. This change allows the board of investments to charge borrowers a higher rate, potentially generating more revenue for the fund or reflecting updated market conditions for lending to sawmill revitalization projects.

Scope change

The scope of the bill remains focused on sawmill revitalization, but the financial terms for loans have been adjusted.

FISCAL

The maximum interest rate for loans made from the sawmill revitalization account was increased from 3% to 4%.

TECHNICAL

Minor formatting changes were made to the section numbering within the bill text.

HB0876_2(3).pdf → HB0876_2(4).pdf · 4 edits

MODERATE

The bill was amended to increase the loan interest rate cap from 3% to 4% and to extend the eligibility window for sawmill revitalization from 12 months to 48 months prior to January 1, 2025. Additionally, the funding source was shifted from the Big Sky Economic Development Fund to the Capital Developments Long-Range Building Program Account, and the effective date was changed to upon passage and approval rather than a specific future date.

Scope change

The bill's scope expanded to include sawmills closed up to four years ago, increasing the pool of potential applicants, while the funding mechanism was redirected to a different state account.

REQUIREMENT

The maximum interest rate for loans increased from 3% to 4%.

ELIGIBILITY

Priority for loans now extends to sawmills closed between 12 and 48 months before January 1, 2025, instead of only those closed within the last 12 months.

FISCAL

The $6 million transfer source changed from the Big Sky Economic Development Fund to the Capital Developments Long-Range Building Program Account.

TIMELINE

The effective date of the act changed from July 1, 2025, to upon passage and approval.

HB0876_1(5).pdf → HB0876_2.pdf · 5 edits

MODERATE

The bill was significantly revised to change the funding source, adjust loan interest rates, and alter the timeline for sawmill closures. The primary funding source shifted from the Big Sky Economic Development Fund to the Capital Developments Long-Range Building Program Account, and the loan interest rate was increased from 3% to 4%. Additionally, the eligibility criteria for loan priority were expanded to include sawmills closed up to 48 months ago, and the effective date was changed to upon passage and approval.

Scope change

The bill's scope expanded to include sawmills closed up to 48 months prior to January 1, 2025, whereas the original version limited priority to mills closed within 36 months.

FISCAL

The funding source was changed from the Big Sky Economic Development Fund to the Capital Developments Long-Range Building Program Account.

REQUIREMENT

The maximum interest rate for loans was increased from 3% to 4%.

TIMELINE

The deadline for transferring funds was set to June 30, 2025, and the loan priority window for sawmill closures was extended to 48 months.

The effective date of the act was changed from July 1, 2025, to upon passage and approval.

The termination date of the act was changed from December 31, 2026, to June 30, 2027.

LC2391.pdf → HB0876_1.pdf · 3 edits

MINOR

The bill was renumbered from LC 2391 to HB 876.1 and the sponsor information was updated to reflect the new bill number. The termination date for the act was extended from December 30, 2026, to December 31, 2026, providing an additional day for the program to remain in effect. A minor capitalization correction was made to the title of the Montana In-State Investment Act.

Scope change

The bill's scope remains unchanged; it still creates a Sawmill Revitalization Special Account and authorizes loans at up to 3% interest.

TIMELINE

The termination date of the act was extended from December 30, 2026, to December 31, 2026.

TECHNICAL

The bill title was changed from LC 2391 to HB 876.1, and the sponsor list was updated to include J. Fitzpatrick and C. Keogh.

A capitalization correction was applied to the name of the Montana In-State Investment Act.

Sawmill revitalization act

What changed between versions

How they voted

Actions timeline

Sponsors