HB 1444 Summary

• Increase Mississippi Industry Incentive Financing Revolving Fund bond authorization by $40,000,000 to total $260,000,000, with issuance deadline of July 1, 2014

• Increase Mississippi Business Investment Act general obligation bond authorization from $323,100,000 to $328,900,000 and equipment/public facilities grant fund from $32,500,000 to $37,500,000

• Authorize issuance of $2,000,000 in bonds for Mississippi Rural Impact Fund, $10,000,000 for Mississippi Existing Industry Productivity Loan Fund, and $10,000,000 for ACE Fund

• Increase Capital Access Program loss reserve account funding from $750,000 to $1,550,000 for participating financial institutions

• Require 20% of Small Municipalities and Limited Population Counties Fund deposits made after July 1, 2011 to be distributed to municipalities with populations of 2,000 or less, with grants capped at $50,000 per grant period