HB 1592 Summary

• Adds kitchen appliance manufacturers with at least 500 Mississippi employees and $20 million in capital investment (creating 120+ new jobs) to the definition of eligible "projects" under the Mississippi Major Economic Impact Act.

• Authorizes the Mississippi Major Economic Impact Authority to provide grant funds for upgrades, equipment replacement, and job training for kitchen appliance manufacturing projects.

• Authorizes issuance of up to $12 million in state general obligation bonds for kitchen appliance projects, with bond issuance authority expiring July 1, 2018.

• Extends the bond issuance deadline for certain large capital projects from June 30, 2011 to June 30, 2016 and from April 25, 2013 to July 1, 2023 for other project types.

• Permits the State Bond Commission to negotiate bond sales at negotiated prices (rather than sealed bid auctions only) through June 30, 2017.