Montana HB876 establishes a special revenue account to fund loans for sawmill revitalization.

Montana HB876 creates a sawmill revitalization special revenue account within the state. The state treasurer must transfer $6 million from the Big Sky Economic Development Fund to this account by June 30, 2025. The Board of Investments will administer the funds, providing loans at a maximum interest rate of 3% to entities capable of revitalizing closed sawmills. Priority is given to applicants aiming to reopen sawmills closed within the last 12 months, with secondary priority for those closed between 12 and 36 months prior. The act is effective July 1, 2025, and terminates December 31, 2026.

Montana HB876 establishes a special revenue account to fund loans for sawmill revitalization.

Montana HB876 creates a sawmill revitalization special revenue account within the state. The state treasurer must transfer $6 million from the Big Sky Economic Development Fund to this account by June 30, 2025. The Board of Investments will administer the funds, providing loans at a maximum interest rate of 3% to entities capable of revitalizing closed sawmills. Priority is given to applicants aiming to reopen sawmills closed within the last 12 months, with secondary priority for those closed between 12 and 36 months prior. The act is effective July 1, 2025, and terminates December 31, 2026.