Montana Code 85-20-1004. Mitigation account
85-20-1004. Mitigation account. (1) A private purpose trust account, called the mitigation account, is established, as provided for in 17-2-102, for deposit of funds and interest on funds appropriated by the state for mitigation measures required by Article VI of the compact.
Terms Used In Montana Code 85-20-1004
- 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
- Trust account: A general term that covers all types of accounts in a trust department, such as estates, guardianships, and agencies. Source: OCC
(2)On approval of a final decree pursuant to Article VII of the compact, the funds and interest on funds in the mitigation account must be made available to the department of natural resources and conservation to cover the state’s cost-share for construction of mitigation measures chosen on completion of a feasibility study and appropriate state and federal environmental review and on consideration of the economic development plan authorized by 85-20-1008.