MS SB2095

Amends Mississippi Code Section 57-1-421 to establish a revolving loan program administered by the Mississippi Development Authority providing interest-free loans to school districts, municipalities, and counties for qualified alternative fuel motor vehicle fuel property costs.

Expands the program to include counties in addition to school districts and municipalities, allowing counties to borrow funds for purchasing alternative fuel vehicles, conversion kits, and refueling infrastructure.

Creates the "Mississippi Alternative Fuel School Bus and County and Municipal Motor Vehicle Revolving Loan Fund" in the State Treasury to support the program, with unexpended funds carrying over annually and investment earnings deposited back to the fund.

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

Takes effect July 1, 2015.