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MS HB1729
Bill
Status
Passed
5/17/2016
Primary Sponsor
Jeffrey Smith
Click for details
AI Summary
- Authorizes approximately $61.9 million in state general obligation bonds for capital improvements at Mississippi's public universities, including projects at Alcorn State, Delta State, Jackson State, Mississippi State, Ole Miss, Mississippi Valley State, and Mississippi University for Women, with an additional $33.5 million authorized for Phase II projects beginning after July 1, 2017.
- Authorizes $25 million in bonds for capital improvements across all 15 community and junior colleges, $20 million for Mississippi State Fairgrounds improvements (including Mississippi Coliseum renovation, new trade mart construction, and parking), and $16.6 million for the Mississippi Civil Rights Museum and Museum of Mississippi History.
- Provides bond funding for major economic development and infrastructure projects, including $45 million for the state-owned shipyard in Jackson County, $20 million for the Local System Bridge Replacement and Rehabilitation Fund, $15 million for the Mississippi Arts and Entertainment Center in Meridian, and increases the Mississippi Business Investment Act bond cap by $5 million to $351.5 million.
- Authorizes dozens of smaller bond issuances for local projects across the state, ranging from $31,000 to $1.8 million, funding infrastructure, recreation facilities, historic preservation, tourism, road repairs, and community improvements in municipalities and counties including Vicksburg, Tupelo, Ocean Springs, Brookhaven, Flowood, and many others.
- Creates the Mississippi Main Street Investment Revolving Loan Fund with $700,000 in bond proceeds to provide loans to municipalities with populations under 15,000 for revitalization zone improvements, and amends several existing economic development statutes to increase bond authorization limits and expand eligible programs.
Legislative Description
Bonds; authorize for various purposes.
Last Action
Approved by Governor
5/17/2016
Committee Referrals
Finance3/28/2016
Ways and Means3/14/2016
Full Bill Text
No bill text available