HB579

Montana HB579 requires local governments to establish and fund a capital reserve account before receiving grants or loans from the renewable resource.

Montana HB579 mandates that local governments establish and continually fund a capital reserve account before they can receive funding from the renewable resource grant and loan program or the Montana coal endowment program. The account must be funded with 10% of revenues from water supply fees, wastewater system usage fees, or water delivery fees, or $5 per acre-foot of water storage capacity for water storage dams. Local governments can only use the account to fund projects with a total estimated cost of at least $50,000.