Establishing the Keep Montanans Housed Act

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69th Legislature 2025 SB 501.1
- 1 - Authorized Print Version – SB 501
1 SENATE BILL NO. 501
2 INTRODUCED BY L. SMITH, S. NOVAK, M. DUNWELL, J. ELLIS, J. MORIGEAU, D. FERN, E. BOLDMAN
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4 A BILL FOR AN ACT ENTITLED: “AN ACT ESTABLISHING THE KEEP MONTANANS HOUSED ACT;
5 PROVIDING TENANTS WITH THE FIRST OPPORTUNITY TO PURCHASE CERTAIN RENTAL
6 PROPERTIES FROM LANDLORDS; AND PROVIDING AN EFFECTIVE DATE.”
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8 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MONTANA:
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10 NEW SECTION. Section 1. Short title. [Sections 1 and 2] may be cited as the "Keep Montanans
11 Housed Act".
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13 NEW SECTION. Section 2. Right of first refusal -- timelines. (1) Before a landlord may sell a
14 rented dwelling unit or the premises on which a rented dwelling unit is located or issue a notice to vacate the
15 dwelling unit or premises for reasons of demolition, repurposing, or selling, the landlord shall give the tenant an
16 opportunity to purchase the dwelling unit or the premises on which the dwelling unit is located at a price and
17 with material terms that represent a bona fide offer of sale.
18 (2) A landlord shall provide the tenant a copy of the offer of sale by hand delivery, electronic
19 transmission, or certified mail. A landlord may not retain a percentage of ownership in the dwelling unit or the
20 premises on which the dwelling unit is located in the offer of sale.
21 (3) The sales price contained in the offer of sale may not be more than a price comparable to that
22 at which a willing seller and a willing buyer would sell and purchase the dwelling unit or the premises on which
23 the dwelling unit is located or the appraised value of the dwelling unit or premises.
24 (4) Upon receipt of the offer of sale from the owner:
25 (a) a tenant has 45 days to accept the offer of sale; and
26 (b) a tenant may challenge an offer of sale as not being a bona fide offer of sale and request a
27 determination of the appraised value by a licensed real estate appraiser as defined in 37-54-102 at the expense
28 of the tenant by providing written notice to the landlord by hand delivery, electronic transmission, or certified
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69th Legislature 2025 SB 501.1
- 2 - Authorized Print Version – SB 501
1 mail.
2 (5) If a tenant that receives an offer of sale consistent with this section rejects the offer of sale or
3 fails to respond within the timelines pursuant to this section, the owner may immediately proceed with the sale
4 of the dwelling unit or the premises on which a dwelling unit is located to a third-party purchaser consistent with
5 the price and material terms of that offer of sale.
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7 NEW SECTION. Section 3. Codification instruction. [Sections 1 and 2] are intended to be codified
8 as an integral part of Title 70, chapter 24, part 1, and the provisions of Title 70, chapter 24, part 1, apply to
9 [sections 1 and 2].
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11 NEW SECTION. Section 4. Effective date. [This act] is effective July 1, 2025.
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