House Bill 1730 Summary

• Authorizes issuance of up to $20,000,000 in state general obligation bonds for the North Central MS Regional Rail Authority to refinance acquisition costs and refurbish the rail line extending from Southaven to Canton, with bonds payable primarily from lease payments by July 1, 2022.

• Authorizes issuance of up to $8,000,000 in state general obligation bonds (no more than $5,000,000 per fiscal year) for the Reunion Parkway/Interstate 55 Interchange Project in Madison County for design, engineering, land acquisition, and construction costs by July 1, 2021.

• Authorizes issuance of up to $3,000,000 in state general obligation bonds to assist the City of Louisville in constructing access roads and transportation infrastructure for an economic development project by July 1, 2021.

• Brings forward Section 1, Chapter 518, Laws of 2014 authorizing up to $30,000,000 in bonds for the North Central MS Regional Rail Authority's initial rail line acquisition (issuance deadline July 1, 2018).

• Amends Section 27-31-104 to allow fee-in-lieu of ad valorem taxes agreements for projects with minimum $100,000,000 capital investment where a majority is from private sources, if located in areas with a Presidential Disaster Declaration issued on or after January 1, 2014.