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Senate committee hears bill to let Montana Facility Finance Authority issue more conduit bonds, broaden eligibility
Summary
Senate Bill 104 would let the Montana Facility Finance Authority (MFFA) expand conduit bond financing beyond nonprofits and health care, raise the Authority's bond issuance cap to about $1.5 billion, and add an inflation adjustment; proponents said it would unlock projects in rural Montana while bond counsel said conduit debt is not a state obligation.
Senator Gail Lammers introduced Senate Bill 104 on behalf of the sponsor, saying the measure would expand access to low‑cost capital by enlarging the Montana Facility Finance Authority's role and raising its bond issuance cap to roughly $1.5 billion with a biannual inflation adjustment. "This is a proposal that will work to unlock new economic opportunities and fuel growth across Montana," Lammers said.
Adam Gill, executive director of the Montana Facility Finance Authority, told the committee the MFFA has 40 years of experience issuing conduit bonds for nonprofit health care projects and other public‑benefit facilities. "Conduit bonds are an essential driver of economic development,"…
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