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MS SB2411
Bill
AI Summary
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Loan repayments from the Mississippi Industry Incentive Financing Revolving Fund shall be deposited to the fund until the balance reaches $50,000,000.00.
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Once the fund balance reaches $50,000,000.00, subsequent loan repayments shall be deposited to Fund No. 3951 in the State Treasury to pay debt service on bonds until the balance falls below $50,000,000.00.
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The Mississippi Development Authority must notify the Chairman of the Senate Finance Committee and the Chairman of the House Ways and Means Committee 30 days before disbursing any money for grants or loans, identifying the applicant and the loan or grant purposes.
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The effective date is July 1, 2013.
Legislative Description
MS Industry Incentive Financing Revolving Fund; loan repayments used to pay debt service if balance exceeds $50,000,000.
Last Action
Died In Committee
3/5/2013