MS HB1575

Establishes a housing repair grant program administered by the Department of Finance and Administration to provide grants to low-income individuals for significant home repairs, with a maximum grant of $25,000 per household.

Requires applicants to be at least 62 years old or disabled, own at least 50% of their primary residence, and have annual household income not exceeding $12,000 (single) or $16,000 (two or more persons).

Creates the Mississippi Housing Repair Grant Fund in the state treasury and authorizes issuance of up to $50,000,000 in state general obligation bonds to fund the program.

Allocates grant funds among the four congressional districts based on the proportion of persons below the federal poverty level in each district.

Takes effect July 1, 2010.