HELENA – Montana lawmakers are considering propping up a coal-fired power plant’s operations by giving one of its co-owners low-interest loans of up to $10 million a year from the state’s $1 billion coal tax trust fund.

Talen Energy owns 50 percent of the two older units of the Colstrip plant that are required to close by July 2022, but company representatives have warned the closure could come sooner if Talen does not receive tax relief or other state assistance.

“It might not be the best way, but it is a way to help them,” said Rep. Jim Keane, D-Butte. “They can borrow from the state to hopefully keep them going.”

Gov. Steve Bullock was not involved in drafting the bill. Spokeswoman Ronja Abel declined to comment on whether the Democratic governor backs the measure.

“Governor Bullock will take a close look at any legislation that makes it to his desk,” Abel said in a statement. “He remains committed to finding a made-in-Montana solution that protects the workers in Colstrip and ensures the economic strength of the community.”

Colstrip is the second-largest coal-fired power plant in the West, and a major economic driver for eastern Montana. The closure of two of the four units will mean the loss of more than 200 jobs at the plant and the coal mine that supplies it, along with millions of dollars in lost taxes.

John Metropoulos, a lobbyist for Talen Energy, told lawmakers earlier this session that the company is losing tens of millions of dollars a year by operating Colstrip, and the company is seeking legislation to help the two older units operate until 2022.

The bill will be sponsored by House Speaker Austin Knudsen, R-Culbertson, Keane said. Knudsen did not immediately return a call for comment.

The measure seeks to rewrite the loans the state Board of Investment can make to include Talen “if the loan will prevent the elimination of jobs and provide stability in a community impacted by the operation of a coal fired generating unit.”

The bill also encourages the board to “act as expeditiously as possible” to facilitate the continued operation of coal-fired generation in the state.