MS SB2927

Amends Section 57-1-18 of Mississippi Code to establish a new grant program within the Small Municipalities and Limited Population Counties Fund for municipalities with a population of 2,000 or less according to the latest federal decennial census.

Requires that at least 20% of all money deposited into the fund after July 1, 2011, shall be used for grants to the smallest municipalities under the new program.

Grants to municipalities with 2,000 or less population are capped at $50,000 per grant period, while existing grants to small municipalities (10,000 or less) and limited population counties (30,000 or less) remain capped at $250,000 per grant period.

Directs the Mississippi Development Authority to establish and administer the grant program and promulgate necessary rules and regulations.

Requires the Mississippi Development Authority to file annual reports with the Governor and legislative leadership describing all assistance provided under the program.