17-5-1325. Reassignment of bonding authority for agricultural purposes -- contingency. If, at some time in the future, federal taxation laws allow the use of tax-exempt bonds to provide loans for the acquisition of farm or ranch land, a downpayment on the acquisition of farm or ranch land, or the acquisition or construction of depreciable property used in the operation of a farm or ranch, the allocation of bonding authority originally assigned to the Montana agricultural loan authority must be reassigned to the Montana board of investments to provide those loans.
History: En. Sec. 3, Ch. 168, L. 1991.
Structure Montana Code Annotated
Part 13. Montana Unified Volume Cap Bond Allocation Plan Act
17-5-1303. through 17-5-1310 reserved
17-5-1311. State's volume cap and reservations -- department to adopt rule
17-5-1312. Allocation to state issuers
17-5-1313. Allocation to local issuers
17-5-1314. Authorization by the governor
17-5-1315. Carryforward elections
17-5-1316. Allocations by the department
17-5-1317. Notification of approval or disapproval by the department
17-5-1318. Terms of allocations
17-5-1319. and 17-5-1320 reserved
17-5-1321. Allocations not transferable
17-5-1325. Reassignment of bonding authority for agricultural purposes -- contingency