Mont. Code Ann. § 85-1-603
This is the official text of Mont. Code Ann. § 85-1-603, part of Montana’s Code Ann — part of the compiled statutory law of Montana, published by the state as "Code Ann." Browse the sections below, each linked to its official government source.
Not legal advice. This page reproduces the official text of a government statute for reference only. Laws change, and how a statute applies depends on your specific facts. For advice about your situation, consult a licensed attorney in your state.
85-1-603 Renewable resource loan debt service fund created -- coal severance tax allocated -- renewable resource loan loss reserve fund created
Official statutory text
85-1-603 . Renewable resource loan debt service fund created -- coal severance tax allocated -- renewable resource loan loss reserve fund created. (1) (a) There is created a renewable resource loan debt service fund within the debt service fund type established in 17-2-102 .
(b) The state pledges and allocates and directs to be credited to the renewable resource loan debt service fund, as received:
(i) 0.95% of all money from time to time received from the coal severance tax collected under Title 15, chapter 35;
(ii) any principal and accrued interest under 85-1-613 (5)(a) received in repayment of a loan made from the proceeds of bonds issued under 85-1-617 ;
(iii) all interest income earned on proceeds of renewable resource grant and loan program bonds;
(iv) revenue or money otherwise required to be paid into the natural resources projects state special revenue account pursuant to 15-38-302 , as determined by the board of examiners in connection with the issuance of bonds pursuant to 85-1-617 ; and
(v) money received from the renewable resource loan loss reserve fund as the result of a loan loss.
(2) (a) There is a renewable resource loan loss reserve fund within the debt service fund type established in 17-2-102 .
(b) The state pledges and allocates and directs to be credited to the renewable resource loan loss reserve fund all accrued interest under 85-1-613 (5)(b) received in repayment of a loan made from the proceeds of bonds issued under 85-1-617 .
(c) If the department determines that a loan loss has occurred on a loan made pursuant to this part, funds from the renewable resource loan loss reserve fund must be transferred to the renewable resource loan debt service fund in an amount equal to the amount that would otherwise be available for debt service under subsection (1)(b) as a result of the loan loss.
(b) The state pledges and allocates and directs to be credited to the renewable resource loan debt service fund, as received:
(i) 0.95% of all money from time to time received from the coal severance tax collected under Title 15, chapter 35;
(ii) any principal and accrued interest under 85-1-613 (5)(a) received in repayment of a loan made from the proceeds of bonds issued under 85-1-617 ;
(iii) all interest income earned on proceeds of renewable resource grant and loan program bonds;
(iv) revenue or money otherwise required to be paid into the natural resources projects state special revenue account pursuant to 15-38-302 , as determined by the board of examiners in connection with the issuance of bonds pursuant to 85-1-617 ; and
(v) money received from the renewable resource loan loss reserve fund as the result of a loan loss.
(2) (a) There is a renewable resource loan loss reserve fund within the debt service fund type established in 17-2-102 .
(b) The state pledges and allocates and directs to be credited to the renewable resource loan loss reserve fund all accrued interest under 85-1-613 (5)(b) received in repayment of a loan made from the proceeds of bonds issued under 85-1-617 .
(c) If the department determines that a loan loss has occurred on a loan made pursuant to this part, funds from the renewable resource loan loss reserve fund must be transferred to the renewable resource loan debt service fund in an amount equal to the amount that would otherwise be available for debt service under subsection (1)(b) as a result of the loan loss.
Status: in_force · Read it on the official government site
Need a lawyer in Montana?
Find a Montana lawyer
About this page: Statute text is reproduced from official government publishers via the
Open US Law dataset
(Vaquill AI, snapshot v2026.08, CC BY 4.0). Primary legislative text like this is public domain under the government-edicts doctrine
(Georgia v. Public.Resource.Org, 2020). We link every section back to its official source so you can verify it independently.