MS HB896

Establishes a Local Governments MSWIN Infrastructure and Equipment Revolving Loan Program administered by the Mississippi Development Authority to assist counties and municipalities with purchases needed to participate in the Mississippi Wireless Information Network.

Creates a special "Local Governments MSWIN Infrastructure and Equipment Revolving Loan Fund" in the State Treasury, with loan funds available at an interest rate equal to the lesser of 2% per annum or the true interest cost on the most recent state general obligation bond issue.

Counties pledge homestead exemption tax loss reimbursements and municipalities pledge sales tax revenue distributions as collateral for loan repayment, with repayment periods not exceeding the average useful life of equipment purchased (5-7 years for subscriber equipment; 15-20 years for network infrastructure).

Authorizes issuance of up to $20,000,000 in state general obligation bonds to fund the revolving loan program, with bonds backed by the full faith and credit of Mississippi.

Requires the Mississippi Development Authority to annually report to the Legislature on fund expenditures, approved purchases, and costs for each county and municipality participating in the program.