MS HB1349

Establishes the "Mississippi School District Emergency Bridge Loan Act" administered by the State Department of Education to provide emergency loans to school districts experiencing revenue losses from economic downturns.

Creates the Mississippi School District Emergency Bridge Loan Fund in the State Treasury funded through appropriations, bonds, grants, and donations, with repayments and interest deposited back into the fund.

Allows school districts demonstrating projected revenue losses equal to or exceeding one-third of prior year revenues to qualify for loans at or below market interest rates, with maximum loan amounts set by the State Board of Education.

Requires borrowing school districts to pledge homestead exemption annual tax loss reimbursements or make monthly payments to repay loans within 10 years according to established loan agreements.

Grants the State Department of Education authority to supervise fund use, establish loan procedures, distribute funds, maintain records, and file annual reports to the Legislature detailing fund expenditures.