House Bill 427 Summary

• Establishes the "Smart State Act" creating two grant programs: one administered by the Mississippi Development Authority for municipalities and one by the State Department of Health for health care entities, both focused on technology improvements.

• Authorizes issuance of $50,000,000 in state general obligation bonds for the Municipalities Technology Improvements Fund to provide grants to cities for law enforcement, public safety, traffic control, transportation systems, and infrastructure projects.

• Authorizes issuance of $30,000,000 in state general obligation bonds for the Mississippi Health Care Technology Improvements Fund to provide grants to hospitals, health clinics, and federally qualified health centers for technology improvements.

• Limits individual grants to the lesser of $3,000,000 or 75% of the project cost for both municipalities and health care entities, with grant programs administered through application processes and guidelines.

• Requires all bonds to be issued by July 1, 2022, with maturity periods not exceeding 25 years and establishes that bonds are general obligations backed by the full faith and credit of the State of Mississippi.