---
type: "Bill"
title: "Expanding access to low-cost capital to certain eligible projects and entities"
description: "Expanding access to low-cost capital to certain eligible projects and entities"
jurisdiction: "us/states/mt"
legislature: "Montana Legislature"
session: "2025"
identifier: "SB 104"
citation: "Montana SB 104 (2025)"
classification: ["bill"]
subjects: ["Bond Issues", "Public", "Property", "State Finance", "State Government"]
status: "enacted"
primary_sponsors: ["Gayle Lammers"]
version_count: 19
action_count: 47
vote_count: 7
first_action: "2024-10-04T19:15:25+00:00"
last_action: "2025-04-17T16:37:41+00:00"
source: "openstates"
source_identifier: "ocd-bill/a63e7090-ec83-4906-a175-66be125a641d"
source_url: "https://bills.legmt.gov/#/laws/bill/2/LC0459?open_tab=sum"
source_hash: "adec75e9b158a5e25be7ac776cc7c90d9fc8ea21f2cab8a8d966330799d00897"
vintage: "2026-07-01"
source_snapshot: "https://data.openstates.org/daily/2026-07-01/public.pgdump"
retrieved_at: "2026-07-06"
confidence: "reported"
tags: ["legislation", "bill", "us-mt"]
---

# Montana SB 104 (2025) — Expanding access to low-cost capital to certain eligible projects and entities

## Version chain

The bill's text revisions, in order — the diff chain from filing to enrollment.

1. **LC0459.pdf** (committee substitute) — [source](https://api.legmt.gov/docs/v1/documents/getContent?documentId=266640)
2. **SB0104.001.002_Amendments-in-Context_final-condensed.pdf** (committee substitute) — [source](https://api.legmt.gov/docs/v1/documents/getContent?documentId=287174)
3. **SB0104.001.002_Amendments-in-Context_final-full.pdf** (committee substitute) — [source](https://api.legmt.gov/docs/v1/documents/getContent?documentId=287172)
4. **SB0104_1(1).pdf** (committee substitute) — [source](https://api.legmt.gov/docs/v1/documents/getContent?documentId=275159)
5. **SB0104_1(2).pdf** (committee substitute) — [source](https://api.legmt.gov/docs/v1/documents/getContent?documentId=276227)
6. **SB0104_1(3).pdf** (committee substitute) — [source](https://api.legmt.gov/docs/v1/documents/getContent?documentId=279278)
7. **SB0104_1(4).pdf** (committee substitute) — [source](https://api.legmt.gov/docs/v1/documents/getContent?documentId=279279)
8. **SB0104_1(5).pdf** (committee substitute) — [source](https://api.legmt.gov/docs/v1/documents/getContent?documentId=290193)
9. **SB0104_1(6).pdf** (committee substitute) — [source](https://api.legmt.gov/docs/v1/documents/getContent?documentId=295399)
10. **SB0104_1(7).pdf** (committee substitute) — [source](https://api.legmt.gov/docs/v1/documents/getContent?documentId=302218)
11. **SB0104_1.pdf** (committee substitute) — [source](https://api.legmt.gov/docs/v1/documents/getContent?documentId=269981)
12. **SB0104_X(1).pdf** (committee substitute) — [source](https://api.legmt.gov/docs/v1/documents/getContent?documentId=316604)
13. **SB0104_X(2).pdf** (committee substitute) — [source](https://api.legmt.gov/docs/v1/documents/getContent?documentId=320199)
14. **SB0104_X(3).pdf** (committee substitute) — [source](https://api.legmt.gov/docs/v1/documents/getContent?documentId=321131)
15. **SB0104_X(4).pdf** (committee substitute) — [source](https://api.legmt.gov/docs/v1/documents/getContent?documentId=321132)
16. **SB0104_X(5).pdf** (committee substitute) — [source](https://api.legmt.gov/docs/v1/documents/getContent?documentId=321133)
17. **SB0104_X(6).pdf** (committee substitute) — [source](https://api.legmt.gov/docs/v1/documents/getContent?documentId=324516)
18. **SB0104_X(7).pdf** (committee substitute) — [source](https://api.legmt.gov/docs/v1/documents/getContent?documentId=325826)
19. **SB0104_X.pdf** (committee substitute) — [source](https://api.legmt.gov/docs/v1/documents/getContent?documentId=310651)

## Votes

- be_concurred_in — **18–5** (pass) · lower
- Do Concur — **86–13** (pass) · lower
- Do Pass — **38–11** (pass) · upper
- Do Concur — **88–12** (pass) · lower
- be_concurred_in — **20–0** (pass) · lower
- do_pass — **11–1** (pass) · upper
- Do Pass — **37–13** (pass) · upper

## Sponsors

- Gayle Lammers — primary (person)

## Timeline

The legislative action history — every referral, reading, and vote.

- **2024-10-04T19:15:25+00:00** (LC) Drafter Assigned
- **2024-10-04T19:15:25+00:00** (LC) Draft On Hold
- **2024-10-28T16:07:47+00:00** (LC) Draft Taken Off Hold
- **2024-11-14T15:55:06+00:00** (LC) Draft in Legal Review
- **2024-11-22T14:34:29+00:00** (LC) Draft in Edit
- **2024-12-03T17:38:56+00:00** (LC) Draft in Input/Proofing
- **2024-12-03T23:06:37+00:00** (LC) Draft in Final Drafter Review
- **2024-12-09T14:16:39+00:00** (LC) Draft in Assembly
- **2024-12-10T01:11:53+00:00** (LC) Draft Ready for Delivery
- **2025-01-08T00:09:32+00:00** (S) Introduced
- **2025-01-08T20:09:00+00:00** (S) First Reading `reading-1`
- **2025-01-14T23:15:37+00:00** (S) Fiscal Note Requested
- **2025-01-20T23:15:46+00:00** (S) Fiscal Note Received `receipt`
- **2025-01-21T18:37:19+00:00** (S) Fiscal Note Signed
- **2025-01-21T19:29:39+00:00** (S) Fiscal Note Printed
- **2025-02-05T19:08:52+00:00** (S) Referred to Committee - (S) Business, Labor and Economic Affairs `referral-committee`
- **2025-02-12T14:49:48+00:00** (S) Hearing - (S) Business, Labor and Economic Affairs
- **2025-02-24T18:03:27+00:00** (S) Committee Executive Action--Bill Passed - (S) Business, Labor and Economic Affairs `committee-passage`
- **2025-02-24T20:29:00+00:00** (S) Committee Report--Bill Passed - (S) Business, Labor and Economic Affairs `committee-passage`
- **2025-02-25T20:00:00+00:00** (S) Scheduled for 2nd Reading `reading-2`
- **2025-02-25T20:56:00+00:00** (S) 2nd Reading Passed `reading-2, reading-2`
- **2025-02-25T21:28:00+00:00** (S) Rereferred to Committee - (S) Finance and Claims `referral-committee, referral-committee`
- **2025-02-27T01:57:00+00:00** (S) Hearing - (S) Finance and Claims
- **2025-02-27T20:36:00+00:00** (S) Committee Report--Bill Passed - (S) Finance and Claims `committee-passage`
- **2025-02-28T20:00:00+00:00** (S) Scheduled for 3rd Reading `reading-3`
- **2025-02-28T22:11:00+00:00** (S) 3rd Reading Passed `passage, reading-3`
- **2025-02-28T22:32:05+00:00** (S) Transmitted to House
- **2025-03-01T19:07:21+00:00** (H) Referred to Committee - (H) Business and Labor `referral-committee`
- **2025-03-01T20:43:00+00:00** (H) First Reading `reading-1`
- **2025-03-06T21:57:37+00:00** (H) Hearing - (H) Business and Labor
- **2025-03-19T17:01:47+00:00** (H) Committee Executive Action--Bill Concurred - (H) Business and Labor
- **2025-03-20T19:16:00+00:00** (H) Committee Report--Bill Concurred - (H) Business and Labor
- **2025-03-25T19:00:00+00:00** (H) Scheduled for 2nd Reading `reading-2`
- **2025-03-25T20:52:00+00:00** (H) 2nd Reading Concurred `reading-2, reading-2`
- **2025-03-25T21:08:01+00:00** (H) Rereferred to Committee - (H) Appropriations `referral-committee, referral-committee`
- **2025-03-25T21:13:14+00:00** (H) Hearing - (H) Appropriations
- **2025-03-28T00:11:26+00:00** (H) Committee Executive Action--Bill Concurred - (H) Appropriations
- **2025-03-29T15:16:00+00:00** (H) Committee Report--Bill Concurred - (H) Appropriations
- **2025-03-31T19:00:00+00:00** (H) Scheduled for 3rd Reading `reading-3`
- **2025-03-31T19:47:00+00:00** (H) 3rd Reading Concurred `passage, reading-3`
- **2025-03-31T19:48:13+00:00** (S) Sent to Enrolling
- **2025-04-01T15:50:16+00:00** (S) Returned from Enrolling
- **2025-04-07T16:00:47+00:00** (S) Signed by President `passage`
- **2025-04-08T16:00:47+00:00** (H) Signed by Speaker `passage`
- **2025-04-08T22:56:08+00:00** (S) Transmitted to Governor `executive-receipt`
- **2025-04-16T18:00:00+00:00** (S) Signed by Governor `executive-signature`
- **2025-04-17T16:37:41+00:00** Chapter Number Assigned `became-law`

## Source

OpenStates / OpenCivicData bulk snapshot [2026-07-01](https://data.openstates.org/daily/2026-07-01/public.pgdump); origin `ocd-bill/a63e7090-ec83-4906-a175-66be125a641d`. Confidence: reported (aggregated from official Montana legislature records).