On March 29, 2025, the Montana Legislature introduced House Bill 924, a significant piece of legislation aimed at addressing housing infrastructure and budget stabilization in the state. The bill proposes the establishment of a Montana housing infrastructure revolving loan fund account, which will be part of the state special revenue fund. This fund is designed to support housing projects by allowing the board of investments to manage and invest the deposited funds.

Key provisions of House Bill 924 include stipulations that the principal of the housing infrastructure fund can only be appropriated with a two-thirds majority vote from both houses of the legislature. This requirement underscores the bill's intent to ensure careful oversight and accountability in the use of funds aimed at enhancing housing infrastructure.

Additionally, the bill amends existing regulations concerning the budget stabilization reserve fund. It outlines the purpose of this fund as a mechanism to mitigate budget reductions during revenue shortfalls. The legislation mandates that by August 15 of each year, any unexpended general fund money exceeding 0.5% of total appropriations must be transferred to this reserve fund, with specific exclusions for certain appropriations. Furthermore, if the reserve fund exceeds 16% of general revenue appropriations, the excess will be redirected to the capital developments long-range building program account.

The introduction of House Bill 924 has sparked notable discussions among legislators and stakeholders. Proponents argue that the bill is essential for addressing Montana's housing crisis and ensuring fiscal stability. However, some opposition has emerged, primarily concerning the implications of the two-thirds vote requirement, which critics argue could hinder timely access to necessary funds for housing projects.

The economic implications of this bill are substantial, as it aims to facilitate housing development, which is critical for attracting and retaining residents in Montana. Socially, the bill seeks to alleviate housing shortages, potentially improving living conditions for many Montanans.

As the legislative process unfolds, experts suggest that the outcomes of House Bill 924 could set a precedent for future housing and budgetary policies in Montana. The bill's progress will be closely monitored, as its passage could significantly impact the state's approach to housing infrastructure and fiscal management in the coming years.