MS HB398

Extends the repealer date for the Mississippi Arts Commission's authority to use bond proceeds to reimburse its administrative costs for arts projects from July 1, 2014 to July 1, 2018.

Allows the Arts Commission to reimburse reasonable actual and necessary costs incurred in providing assistance for projects funded through the Building Fund for the Arts, limited to 3% of bond proceeds for each project.

Maintains the Building Fund for the Arts as a separate special fund in the State Treasury, funded by state bonds and other sources, and used to provide grants to nonprofit organizations and local governments for arts facility projects.

Requires grant recipients to provide matching funds equal to 40% of the proposed project cost from local, federal, or private sources to be eligible for grants.

Limits aggregate funding for entertainment and film center projects to $1,000,000 total, with no more than $500,000 available per fiscal year.