HB 393 Summary

• Changes the governing board for the State Inland Port Authority from the Agricultural and Industrial Board to the Mississippi Development Authority.

• Authorizes the State Inland Port Authority to borrow money and issue revenue bonds jointly with counties or municipalities, with bonds exempt from statutory debt limits.

• Allows leases executed by the Authority to be exempt from state, county, and municipal ad valorem taxes if stipulated in the lease agreement.

• Requires lessees or purchasees to give preference in employment where practical to Mississippi residents and qualified residents of the city and county where the port is located.

• Expands the Authority's purchasing authority to require compliance with state purchasing laws and permits negotiated contracts without competitive bidding when rental payments or monetary consideration fully repay facility costs.