MS HB1611

Creates the Mississippi Site Development Grant Program administered by the Mississippi Development Authority to provide grants to counties, municipalities, and local economic development organizations for improving publicly owned industrial property.

Establishes the Mississippi Site Development Grant Fund to receive bond proceeds and other funds, with eligible expenditures including professional fees (architects, engineers, attorneys) and site development improvements such as clearing, grading, drainage, utilities, roads, and environmental mitigation.

Requires eligible entities to provide matching funds (cash or in-kind services) as determined by the MDA and submit applications describing expenditures, assistance amounts requested, and matching funds.

Authorizes issuance of up to $1,000,000 in state general obligation bonds to fund the grant program, with bonds to mature no later than 25 years from issuance and no bonds issued after July 1, 2020.

Requires the MDA to file annual reports by December 1 describing all assistance provided and limits administrative cost reimbursement to 3% of bond proceeds per project.