MS HB723

Increases maximum relocation expenses for reestablishing a displaced farm, nonprofit organization, or small business from $10,000 to $25,000.

Raises the maximum fixed payment for persons displaced from their place of business or farm operation from $20,000 to $40,000.

Increases the maximum additional payment for displaced homeowners from $22,500 to $31,000 and reduces the required ownership period from 180 days to 90 days before property acquisition negotiations.

Increases the maximum rental assistance payment for displaced persons not eligible under homeowner provisions from $5,250 to $7,200 for up to 42 months.

Allows for automatic future increases to all maximum relocation payment amounts to match federal regulations under 49 CFR Section 24 and takes effect July 1, 2013.