MS HB1158

Establishes a housing repair grant program administered by the Department of Finance and Administration to provide grants up to $25,000 per household for home repairs.

Requires applicants to be at least 62 years old or disabled, own at least 50% of their primary home, and have annual household income not exceeding $12,000 (one person) or $16,000 (two or more persons).

Creates the Mississippi Housing Repair Grant Fund in the State Treasury and allocates funds to the four congressional districts based on the proportion of residents living below the federal poverty level in each district.

Authorizes the issuance of up to $50,000,000 in state general obligation bonds to provide funding for the grant program, with bonds backed by the full faith and credit of the state.

Takes effect July 1, 2014.