MS HB1651

Increases Mississippi Railroad Improvements Fund bond authorization from $9.9 million to $22.9 million, extending issuance deadline from July 1, 2015 to July 1, 2022.

Authorizes $2 million in state general obligation bonds for the Mississippi Highway-Railroad Grade Crossing Safety Account, with $200,000 designated for improvements to the Shands Bottom Road/Memphis to Canton rail crossing in Senatobia.

Authorizes $1 million in state general obligation bonds for the 2018 Railroad Improvements Fund to repair, rehabilitate, and improve the railroad line between Amory and Fulton, Mississippi.

Repeals prior authorization for bonds funding the West Point to Greenwood railroad line project.

Allows railroad authorities to exempt leasehold interests and contracts from ad valorem taxation for up to 10 years when necessary to facilitate railroad property repair, rehabilitation, or reconstruction.