MS SB2976

Amends Section 57-1-421 of Mississippi Code to authorize counties, in addition to school districts and municipalities, to obtain loans through a revolving loan program established by the Mississippi Development Authority.

Loans are available to assist counties, school districts, and municipalities with paying costs of qualified alternative fuel motor vehicle fuel property, including conversion kits, OEM alternative fuel vehicles, and refueling systems.

Establishes the "Mississippi Alternative Fuel School Bus and County and Municipal Motor Vehicle Revolving Loan Fund" in the State Treasury to fund the program, with all loan repayments deposited back into the fund.

All loans made under the program bear no interest, and applicants must submit applications to the Mississippi Development Authority describing the loan purpose, amount requested, and other required information.

Effective date is July 1, 2014.