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Committee hears bill to extend bond-validation window to cover issues since March 16, 2023
Summary
Sponsors told the Senate State Administration Committee that House Bill 63 would update the Bond Validation Act’s effective date to retroactively validate state and local bond issues issued since March 16, 2023; proponents said the annual update protects investors and preserves stability in Montana’s public finance market.
Representative Julie Darling introduced House Bill 63 at a hearing before the Senate State Administration Committee, asking members to update the Bond Validation Act so it would retroactively validate state and local bond issues with procedural or authorization shortcomings that occurred after March 16, 2023.
The measure, Darling said, is the annual update the Department of Administration requests so that bond issues issued after the last update remain protected. “This is a bill…
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