MS HB1235

Allocates 20% of all monies deposited into the Small Municipalities and Limited Population Counties Fund on or after July 1, 2011, specifically for grants to small municipalities with populations of 2,000 or less.

Caps grants to small municipalities under the 2,000 population threshold at $50,000 per grant period, while other small municipalities and limited population counties can receive up to $250,000 per grant period.

Maintains the existing fund structure for small municipalities (population under 10,000) and limited population counties (population under 30,000) to receive grants for projects including infrastructure, roads, bridges, utilities, and equipment acquisition.

Requires the Mississippi Development Authority to establish grant program procedures, promulgate rules, and file annual reports to the Governor and Legislature detailing all assistance provided under this section.

Takes effect July 1, 2011.