MS HB1028

Authorizes municipal governing authorities to establish economic development districts within their municipality or in cooperation with other municipalities and private economic development groups.

Allows districts to acquire, develop, and manage real estate for industrial parks and related purposes, including construction of infrastructure like roads, utilities, and warehouses.

Grants districts authority to issue bonds backed by the full faith and credit of the municipality, with bond proceeds and income from property sales or leases exempt from state taxation.

Empowers districts to employ professionals including engineers, attorneys, accountants, real estate brokers, and appraisers, and to sell, lease, or dispose of industrial sites to public or private entities.

Establishes that districts may be managed directly by the municipality or by appointed trustees (5-15 members), with funds collected through tax levies placed in a municipal economic development fund.