MS HB1615

Establishes a revolving loan program through the Mississippi Development Authority to provide interest-free loans to school districts, municipalities, and counties for purchasing qualified alternative fuel motor vehicle fuel property.

Defines qualified alternative fuel motor vehicle fuel property to include conversion kits, original equipment manufacturer alternative fuel vehicles, refueling systems, refueling stations, system upgrades, and portable or mobile refueling systems that reduce emissions.

Creates the "Mississippi Alternative Fuel School Bus and County and Municipal Motor Vehicle Revolving Loan Fund" to hold appropriated funds and other monies designated for the loan program, with unexpended balances and investment earnings remaining in the fund rather than reverting to the general fund.

Requires applicants to submit applications to the Mississippi Development Authority including a description of the loan purpose, requested loan amount, and any other required information.

Takes effect July 1, 2014.