MS HB1726

Authorizes the issuance of $20,000,000 in state general obligation bonds, with no bonds issued after July 1, 2021, to fund a revolving loan program for road and bridge improvements.

Creates the "Small Municipalities and Rural Counties Road and Bridge Improvements Fund" in the state treasury to receive bond proceeds and loan repayments.

Establishes a revolving loan program administered by the Mississippi Development Authority to make loans up to $500,000 to municipalities with populations of 10,000 or less and counties with populations of 30,000 or less.

Requires small municipalities to pledge sales tax revenue distributions and rural counties to pledge homestead exemption tax loss reimbursements as collateral for loan repayment.

Permits the MDA to reimburse up to 3% of bond proceeds per project for reasonable administrative costs and requires annual reporting to the Governor and Legislature.