7-15-4295. Technology districts. (1) A local governing body, by ordinance and following a public hearing, may authorize the creation of a technology district for technology infrastructure development projects. The purpose of a technology district is for the development of infrastructure to encourage the location and retention of technology development projects in the state. The tenants of a technology district must be businesses or organizations engaged in technology-based operations within Montana that through the employment of knowledge or labor add value to a product, process, or export service that results in the creation of new wealth and for which at least 50% of the sales of the business or organization occur outside of Montana or the business or organization is a manufacturing company with at least 50% of its sales to other Montana companies that have 50% of their sales occurring outside of Montana.
     (2) A technology district:
     (a) must consist of a continuous area with an accurately described boundary that is large enough to host a diversified tenant base of multiple independent tenants;
     (b) must be zoned for use in accordance with the area growth policy, as defined in 76-1-103;
     (c) may not comprise any property included within an existing urban renewal area district or industrial infrastructure development district created pursuant to this part;
     (d) must, prior to its creation, be found to be deficient in infrastructure improvements necessary for technology development;
     (e) must, prior to its creation, have in place a formally adopted comprehensive development plan that ensures that the district can host a diversified tenant base of multiple independent tenants; and
     (f) may not be designed to serve the needs of a single district tenant or group of nonindependent tenants.
     (3) A technology district may use tax increment financing pursuant to the provisions of 7-15-4282 through 7-15-4293.

     History: En. Sec. 1, Ch. 566, L. 2005.