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Lawmakers consider $50 million one‑time infusion to revive Housing Montana Fund for affordable housing loans
Summary
Sen. Dave Fern sponsored SB 405 to put a one‑time $50 million into the Housing Montana Fund to provide revolving low‑interest loans for affordable housing. Developers, student and nonprofit groups supported the measure; Department of Commerce provided implementation details and the sponsor asked the committee to greenlight the bill.
Sen. Dave Fern (SD‑2) opened the session on Senate Bill 405 by describing the Housing Montana Fund—a revolving loan account under the Department of Commerce created in 1999—as an underused tool for financing affordable rental and for‑sale housing. Fern said a one‑time injection would let the fund provide bridge loans and leverage federal and local dollars.
Multiple proponents urged passage. Becky Brandsborg, an affordable‑housing developer, said Montana faces a deficit of more than 10,000 homes…
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