House Bill 924, introduced in the Montana Legislature on March 29, 2025, aims to enhance housing affordability and financial stability for residents through a series of provisions focused on mortgage loans and budget management.

The bill primarily establishes a framework for a housing infrastructure revolving loan fund, which will provide loans at reduced interest rates to eligible borrowers. Specifically, the interest on home mortgage loans will be set at 1% below the federal national mortgage association's delivery rate or 1% lower than the lowest rate charged by the Montana Housing Board for other programs, whichever is less. This initiative is designed to make homeownership more accessible, particularly for low- to moderate-income families.

In addition to housing provisions, House Bill 924 includes measures for managing volatile revenue within the state budget. It mandates that if the budget director forecasts a general fund ending balance below the operating reserve, they must notify the legislative finance committee and the fiscal analyst. This notification will trigger a potential reduction of up to 40% in the transfer of volatile revenue to the Montana Growth and Opportunity Trust, allowing for more prudent fiscal management during economic downturns.

Debate surrounding the bill has focused on its implications for state finances and the housing market. Supporters argue that the reduced mortgage rates will significantly benefit first-time homebuyers and veterans, while critics express concerns about the long-term sustainability of the revolving loan fund and the potential impact on the state’s budget if revenue projections fall short.

The economic implications of House Bill 924 could be substantial, as it seeks to stimulate the housing market and provide financial relief to residents. Experts suggest that if implemented effectively, the bill could lead to increased homeownership rates and a more stable housing market in Montana.

As the legislative process continues, stakeholders will be closely monitoring the bill's progress and its potential effects on both housing affordability and state fiscal health. The next steps will involve discussions in committee and possible amendments before a final vote in the legislature.