Senate Bill 2281 Summary

• Authorizes issuance of $10,000,000 in general obligation bonds for repair and renovation of facilities at Mississippi institutions of higher learning, with $1,000,000 allocated to each of 10 universities.

• Authorizes issuance of $1,000,000 in general obligation bonds for capital improvements at community and junior colleges, distributed among 15 community college systems.

• Creates the Mississippi Site Development Grant Program administered by MDA to provide grants to municipalities, counties, and local economic development organizations for improving publicly owned industrial property, funded by $1,000,000 in general obligation bonds.

• Authorizes $1,000,000 in general obligation bonds for the ACE Fund and increases by $1,000,000 the amount of bonds authorized under the Mississippi Business Investment Act and by $1,000,000 the amount authorized under the Mississippi Major Economic Impact Act for military installation enhancement projects.

• Modifies gaming revenue deposits under Section 75-76-129 to provide $3,000,000 annually to the General Fund and allocate remaining gaming fee revenue to various bond sinking funds and cultural construction funds.