MS SB2532

Transfers oversight of the State Inland Port Authority from the Mississippi Agricultural and Industrial Board to the Mississippi Development Authority

Grants the State Inland Port Authority new power to borrow money from public or private sources and enter into joint agreements with counties or municipalities to issue revenue bonds without an election or debt limit restrictions

Authorizes ad valorem tax exemptions for leases and improvements within port facilities if stipulated in the lease agreement, for periods allowed by law

Requires the Authority to give employment preference where practical to Mississippi residents and qualified residents of the city and county where the port is located

Expands permitted uses of the additional $2,000,000 bond proceeds from construction of buildings and equipment only to any activities associated with the Authority's broad powers, including acquisition of machinery, equipment, and facilities