MS SB3033

Creates Mississippi Site Development Grant Program administered by Mississippi Development Authority to provide grants to municipalities, counties, and local economic development organizations for costs of improving publicly owned industrial property marketability.

Authorizes issuance of $2,000,000 in state general obligation bonds for the Site Development Grant Fund and up to $45,000,000 for capital improvements at the state-owned shipyard in Jackson County (conditioned on shipyard lessee incurring $90,000,000 in capital improvements/investments).

Authorizes issuance of $10,000,000 in general obligation bonds for the ACE Fund for economic development purposes.

Increases by $7,000,000 the amount of general obligation bonds authorized under the Mississippi Business Investment Act (from $351,500,000 to $358,500,000).

Increases from $67,000,000 to $68,000,000 the amount of general obligation bonds authorized under the Mississippi Major Economic Impact Act for projects designed to enhance facilities at risk for closure under federal Base Closure and Realignment Act.