MS SB2422

Creates a "Movie Industry Studio Construction Loan Fund" in the State Treasury to provide loans for construction, furnishing, and equipping of movie industry studios in Mississippi.

Authorizes the Mississippi Development Authority to administer the loan program, set minimum criteria for applicants, and set loan terms with repayment periods not exceeding 20 years at interest rates based on the state's bond costs.

Establishes a "Movie Industry Studio Construction Loan Bond Sinking Fund" to receive loan repayments and support debt service on bonds issued under this act.

Authorizes issuance of up to $2,000,000 in general obligation bonds by the State Bond Commission to fund the Movie Industry Studio Construction Loan Fund, with bonds maturing within 25 years.

Pledges the full faith and credit of Mississippi to guarantee the bonds, with principal and interest payable from the sinking fund and the State General Fund if sinking fund resources are insufficient.