Bill Proposing Low-Income Housing Loan Program Advances

A bill that would create a $15 million low-income housing loan program in Montana could be headed for the state House floor for discussion as soon as next week.

House Bill 16, sponsored by Whitefish Democrat Rep. Dave Fern, would direct $15 million of coal tax trust fund money to start a program to provide loans for the development and preservation of homes and apartments to assist low- and moderate-income applicants. The bill passed out of the House Taxation Committee on Feb. 1 with a 13-5 vote.

“I think its chances are pretty good,” Fern said of his bill on Feb. 1. “It’s a loan…so it comes back paid with interest.”