HB 1613 Summary

• Authorizes $1,000,000 in state general obligation bonds for the ACE Fund and $1,000,000 for the Mississippi Development Authority Workforce Training Fund, with bonds to be issued by July 1, 2020.

• Increases bond authorization limits under the Mississippi Business Investment Act by $2,000,000 (to $348,500,000 total) and increases available bond proceeds for development infrastructure grants to $13,500,000 and equipment/facilities grants to $56,100,000.

• Increases bond authorization under the Mississippi Major Economic Impact Act from $63,000,000 to $64,000,000 for military base closure and realignment projects.

• Authorizes $1,000,000 in bonds for the Pascagoula Redevelopment Authority's commercial development incentive program for waterfront mixed-use projects and $300,000 in bonds for Oakland-Yalobusha Natural Gas District infrastructure improvements.

• Increases bond authorization under the Economic Development Highway Act by $1,000,000 (to $368,500,000 total) and effective date is July 1, 2016.