The Montana State Highway Treasury Anticipation Debenture Act, also known as R-35, was on the May 5, 1931 ballot in Montana as a legislatively-referred state statute, where it was approved. The measure authorized the issuance of debentures, or bonds, for the years 1931 through 1934 of up to $6 million for the state highway fund. The measure provided that the state would be able to secure any moneys made available by an act of Congress in reference to highways.
| Montana R-35 (1931)|
| Yes|| 60,075|| 73.86%|
Election results via: Montana Secretary of State
Text of measure
The text of the measure can be read here.