HB 1097 Summary

• Transfers administration of the Emergency Aid to Local Governments Loan and Grant Program from the Department of Finance and Administration to the Mississippi Emergency Management Agency.

• Expands eligibility for loans and grants to include governmental entities needing nonfederal matching funds for Federal Emergency Management Agency grants, in addition to those suffering revenue losses from natural disasters.

• Reduces the revenue loss threshold for eligibility from 25% to 20% of governmental fund type revenues in the fiscal year prior to the natural disaster.

• Establishes limits on grants with a maximum of $3,000,000 per grant and $25,000,000 total for all grants, with loan repayment terms not exceeding three years.

• Authorizes the Mississippi Emergency Management Agency to establish rules, procedures, and oversight for the loan and grant program, including annual reporting to the Legislature on fund distribution.