MS HB220

Establishes a Local Governments MSWIN Infrastructure and Equipment Revolving Loan Program administered by the Mississippi Development Authority to assist counties and municipalities in purchasing equipment needed to participate in the Mississippi Wireless Information Network (MSWIN).

Creates a special "Local Governments MSWIN Infrastructure and Equipment Revolving Loan Fund" in the State Treasury that shall not lapse at the end of fiscal years and may only be used for authorized MSWIN participation purchases.

Authorizes loans at interest rates of the lesser of 2% per annum or the true interest cost on the most recent state general obligation bonds, with repayment terms based on the average useful life of equipment (5-7 years for subscriber equipment, 15-20 years for network infrastructure).

Counties pledging homestead exemption tax loss reimbursements and municipalities pledging sales tax revenue distribution as security for loan repayment; the State Auditor and Fiscal Officer shall enforce collection by withholding payments if loans fall into arrears.

Authorizes the State Bond Commission to issue up to $20,000,000 in general obligation bonds to fund the revolving loan program, with proceeds deposited into the fund and bonds backed by the full faith and credit of the State of Mississippi.