MS HB313

Creates a "Rural Counties and Municipalities Cellular and Broadband Fund" in the state treasury to support grants for cellular and broadband infrastructure in rural areas.

Authorizes the Mississippi Development Authority (MDA) to establish a grant program providing up to 25% of project costs to businesses expanding cellular and broadband access in counties with populations of 30,000 or less and municipalities with populations of 10,000 or less.

Authorizes issuance of $15,000,000 in state general obligation bonds to fund the grant program, with bonds to be issued and sold by the State Bond Commission by July 1, 2022.

Bonds mature within 25 years, are backed by full faith and credit of the state, and are exempt from Mississippi state taxation.

Effective date is July 1, 2018.