House Bill 1488 Summary

• Authorizes issuance of $11,000,000 in state general obligation bonds for the ACE Fund, with bonds expiring July 1, 2022.

• Increases authorized general obligation bonds under the Mississippi Business Investment Act from $358,500,000 to $362,500,000.

• Increases authorized bond proceeds for equipment and public facilities grants and loans from $65,100,000 to $69,100,000 under the Mississippi Business Investment Act.

• Increases authorized general obligation bonds under the Mississippi Major Economic Impact Act from $68,000,000 to $71,000,000 for military installation enhancement projects and extends the bond issuance deadline from June 30, 2018 to June 30, 2022.

• Authorizes $2,000,000 in bonds for the Mississippi Site Development Grant Fund and allows bond proceeds to reimburse up to 3% of administrative costs for fund administration.