HB 585 - Loans for Financially Shaky Coal

Rep. Austin Knudsen, (R-Culbertson), HD 34

This bill would loan Talen Montana $10 million from the coal tax trust permanent fund, annually. Until 2022, the trust coal tax trust fund would help operate the Colstrip plant. Talen Montana has repeatedly said it is losing millions of dollars each year operating Colstrip and cannot, and will not, continue to operate. This bill would give Talen the money it says it needs to operate the plant, but places no conditional loan requirements on Talen, according to a post by GAD Capital. Any money lent to Talen should require the company to post bonds to cover the millions of dollars in cleanup costs at the plant and secure the plant workers’ pensions. This loan money is better spent investing in long term investments to attract new business into the state. Money is lent to Talen is likely never to be repaid, given Talen Montana’s shaky financial situation. If you need a loan check out Nation21Loans.
Representative Austin Knudsen

MEIC's Position: Oppose | Current bill status: Passed Senate and House. Headed to the Governor. | Official legislative site

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