MS HB23

Establishes a Local Governments MSWIN Infrastructure and Equipment Revolving Loan Program administered by the Mississippi Development Authority to assist counties and municipalities in purchasing equipment and infrastructure 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 that remains in perpetuity with unexpended amounts and interest not lapsing to the General Fund.

Authorizes loans at interest rates no higher than 2% per annum or the true interest cost of the most recent state general obligation bonds, with repayment terms based on the useful life of equipment purchased (5-7 years for subscriber equipment, 15-20 years for network infrastructure).

Counties pledge homestead exemption tax reimbursements and municipalities pledge sales tax revenue distributions as loan repayment security, with the State Fiscal Officer authorized to withhold distributions if payments fall into arrears.

Authorizes issuance of up to $20,000,000 in state general obligation bonds to fund the revolving loan program, with bond proceeds and investment earnings used for eligible MSWIN participation purchases and debt service.