_____________ bill NO. _____________

INTRODUCED BY _________________________________________________

By Request of the ****

A BILL FOR AN ACT ENTITLED: "AN ACT GENERALLY REVISING LAWS ON FINANCING PUBLIC PROJECTS; REVISING the PROCESS FOR AWARDING PUBLIC FINANCING CONTRACTS; and PROVIDING AN APPLICABILITY DATE."

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MONTANA:

NEW SECTION. Section 1. Process for awarding state financing contracts -- opportunity to match lowest bidder. (1) Except as provided in subsection (2), when awarding public contracts for the financing of a public project, a public agency shall, except as provided in Title 18, chapter 2, part 5, award a contract for financing a public work to the lowest responsible bidder without regard to residency.

(2) In the event the lowest bidder does not have a physical branch located in the state, the public agency shall:

(a) notify the next lowest bidder that does have a physical branch located in the state of the terms of the lowest bid; and

(b) give that bidder 5 days to offer a bid equal to that of the lowest bidder.

(3) If the next lowest bidder offers an equal bid, the public agency shall award the financing contract to that bidder.

(4) For the purposes of this section, the following definitions apply:

(a) "Physical branch" means a physical branch or location of a financial institution that accepts deposits from Montana citizens and businesses.

(b) "Public agency" means the executive, legislative, and judicial branches of Montana state government, a political subdivision of the state, a local government, and any agency, department, board, commission, office, bureau, division, or other public authority of the executive, legislative, or judicial branch of the state of Montana.

(c) "Public project" means a construction, repair, or public works project that is located on state property or the procurement of equipment that is used by a public agency.

(d) "State property" means a building or portion of a building or other real property that is:

(i) owned or leased by the state or an agency of the state, including vocational institutions or institutions of higher education;

(ii) utilized in the conduct of state matters; and

(iii) occupied principally by state employees.

NEW SECTION. Section 2. Codification instruction. [Section 1] is intended to be codified as an integral part of Title 18, chapter 1, part 1, and the provisions of Title 18, chapter 1, part 1, apply to [section 1].

NEW SECTION. Section 3. Applicability. [This act] applies to public contracts for financing entered into on or after October 1, 2021.