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Senate passes bill to raise Montana Facility Finance Authority bond cap to $1.5 billion
Summary
The Montana Senate voted to advance Senate Bill 104, which would expand the Montana Facility Finance Authority(MFFA) bond issuance cap and broaden eligible borrowers, with supporters saying the change opens low-cost capital to more projects and opponents raising procedural questions and seeking clarity on defaults.
Senators on the floor advanced Senate Bill 104 on second reading, voting 37-13 to recommend the bill do pass. The bill would raise the Montana Facility Finance Authority(MFFA) bond issuance cap to $1,500,000,000 and add an annual inflationary adjustment, and it expands eligibility so additional nonprofit and public-benefit projects can access low-cost conduit bond financing.
Sponsor Senator Lammers said the MFFA acts as a conduit issuer that…
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