90-6-150. Montana housing trust. (1) There is a Montana housing trust in the Montana growth and opportunity trust.

(2) The Montana housing trust is comprised of three programs:

(a) the housing Montana fund administered by the board of housing;

(b) the Montana veterans' home loan mortgage program administered by the board of housing; and

(c) the program providing loans for the development and preservation of homes and apartments to assist eligible low-income and moderate-income applicants administered by the board of housing.

(3) The board of housing shall administer $50 million or more of the Montana housing trust for the purposes of the Montana veterans' home loan mortgage program provided for in Title 90, chapter 6, part 6.

(4) The board of housing shall administer $65 million or more of the Montana housing trust for the purpose of providing loans for the development and preservation of homes and apartments to assist low-income and moderate-income persons with meeting their basic housing needs pursuant to 90-6-137.