Montana lawmakers are considering a bill, HB 924, that would create a trust fund with over $1 billion to address various state needs like property tax relief, infrastructure, and child care. Sponsored by Rep. Llew Jones, the bill aims to set up the “Growth and Opportunity Trust” where money would be invested to earn interest over time. The trust would receive around $600 million in the first year and $400 million in the second year, with the interest going towards different programs like housing loans and pension systems backup. The trust’s structure would be similar to the state’s coal trust, which has accumulated $1.2 billion. Despite concerns from some lawmakers like Senate President Matt Regier and Minority Leader Pat Flowers, the bill passed the House and is now under consideration in the Senate. The goal of the trust is to address various state priorities by setting money aside and earning interest to fund future projects and programs. If any changes are made to the bill in the Senate, it will need to go back to the House for approval before April 23. The trust fund would provide funding for specific projects like water storage, bridge repairs, child care grants, and property tax relief for Montanans’ primary residences.
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