Definitions

# (1)

"Board" means the board of directors for a tax-exempt senior care and housing sponsor.

# (2)

"Department" means the department of revenue provided for in 2-15-1301 .

# (3)

# (a)

"Local government" means the county, consolidated government, or incorporated city or town where the senior development project is located or proposed to be located.

# (b)

The term does not include the county if the senior development project is located or proposed to be located in an incorporated city or town.

# (4)

"Property owner-operator" means a corporation that is incorporated or admitted under a certificate of authority under the laws of the state and that leases or purchases property for senior care facilities and housing or related facilities, which may include a purchase from a tax-exempt senior care and housing sponsor.

# (5)

"Senior care facilities" means some or all levels of a continuum of care. The term includes but is not limited to independent living and housing, semi-independent living and housing, assisted living, in-home nursing or assistant care, memory care, short-term or long-term medical care, or hospice.

# (6)

"Senior care facilities and housing" means senior care facilities and senior housing:

# (a)

specifically designed and operated to assist and benefit elderly persons;

# (b)

intended for, and solely occupied by, persons 62 years of age or older; or

# (c)

intended and operated for occupancy by at least one person 55 years of age or older in each unit in accordance with the provisions of 42 U.S.C. 3607(b)(2)(C) and (b)(3) through (b)(5), as those provisions read on March 31, 1996.

# (7)

# (a)

"Senior care and housing development project" means single-family homes and multifamily projects for the primary purpose of acquiring land for, constructing, or rehabilitating accommodations for senior care facilities and housing that may be retained and rented or sold to a property owner-operator for senior care facilities and housing.

# (b)

The development process includes:

(i) the acquisition of property, not to exceed 250 acres;

(ii) the planning of the buildings, infrastructure, utilities, and improvements;

(iii) permitting;

(iv) the demolition of existing structures; and

(v) the construction, reconstruction, alteration, and repair of the improvements.

# (8)

"Tax-exempt senior care and housing sponsor" means a charitable nonprofit corporation that is exempt from taxation under 26 U.S.C. 501(c)(3), as amended, and incorporated or admitted under a certificate of authority under the Montana Nonprofit Corporation Act as provided in Title 35, chapter 2, and whose articles of incorporation provide in addition that:

# (a)

the charitable organization has been organized exclusively to obtain land and assist senior care and housing development projects;

# (b)

all of the income and earnings of the organization must be used exclusively for senior care and housing development project purposes, and part of the net income or net earnings of the organization may not inure to the benefit or profit of any private individual, firm, corporation, partnership, or association; and

# (c)

the charitable organization is in no manner controlled by, under the direction of, or acting in the substantial interest of any private individual, firm, partnership, or association seeking to derive profit or gain from the organization or seeking to eliminate or minimize losses in any transactions with the organization.