House Bill 633 Summary

• Extends the effective date of reversionary language on the Emerging Crops Fund loan program from June 30, 2014 to make permanent the availability of separate loans to agribusinesses and greenhouse production horticulture enterprises.

• Makes permanent subsection (3) of Section 69-2-13, which authorizes loans to agribusiness or greenhouse production horticulture enterprises, removing the sunset provision that would have terminated this program.

• Adds authorization for the Mississippi Development Authority to make loans to agribusinesses engaged in poultry production operations for equipment upgrades, renovations, and facility improvements, with a maximum of $200,000 per loan and 30% of total project costs.

• Maintains existing loan terms including zero interest charges on loans, repayment of only the actual amount loaned, and deposit of repayments into the Emerging Crops Fund.

• Takes effect July 1, 2012.