Montana Code 17-6-309. Investment preferences
17-6-309. Investment preferences. (1) Subject to the provisions of subsection (2), in deciding which of several investments of equal or comparable security and return are to be made when sufficient funds are not available to fund all possible investments, the board shall give preference to the business investments that:
Terms Used In Montana Code 17-6-309
- Board: means the board of investments created in 2-15-1808. See Montana Code 17-6-302
- Clean and healthful environment: means an environment that is relatively free from pollution that threatens human health, including as a minimum, compliance with federal and state environmental and health standards. See Montana Code 17-6-302
- Coal-fired generating unit: means an individual unit of a coal-fired electrical generating facility located in Montana that has a generating capacity greater than or equal to 100 megawatts. See Montana Code 17-6-302
- Montana economy: means any business activities in the state of Montana, including those that continue existing jobs or create new jobs in Montana. See Montana Code 17-6-302
- Owner: means an entity certified as an exempt wholesale generator pursuant to 42 U. See Montana Code 17-6-302
- Several: means two or more. See Montana Code 1-1-201
- State: when applied to the different parts of the United States, includes the District of Columbia and the territories. See Montana Code 1-1-201
(a)assist employee-owned enterprises in providing new jobs or in preserving existing jobs for Montana residents or in otherwise contributing to the long-term benefit of the Montana economy, including raising the per capita income of Montana jobholders;
(b)are for locally owned enterprises that are either expanding or establishing new operations;
(c)provide jobs that will be substantially filled by current Montana residents as opposed to providing jobs that will be filled by nonresidents coming into the state to fill the jobs;
(d)maintain and improve a clean and healthful environment, with emphasis on energy efficiency;
(e)encourage or benefit the processing, refining, marketing, and innovative use and promotion of Montana’s agricultural products; or
(f)benefit small- and medium-sized businesses as defined in rules adopted by the board.
(2)The board may make a loan to enhance economic development and create jobs in the basic sector of the economy, as defined by the board by rule, if the loan will result in the creation of a business estimated to employ at least 15 people in Montana on a permanent, full-time basis or result in the expansion of a business estimated to employ at least an additional 15 people in Montana on a permanent, full-time basis or raise salaries, wages, and business incomes of existing employees and employers.
(3)The board may make a working capital loan to an owner of a coal-fired generating unit if the loan will prevent the elimination of jobs and provide stability in a community impacted by the operation of a coal-fired generating unit.