Senate Bill 2612 Summary

• Authorizes issuance of $11,000,000 in general obligation bonds for the ACE Fund administered by the Mississippi Development Authority.

• Increases authorization for bonds under the Mississippi Business Investment Act from $358,500,000 to $362,500,000 and increases equipment and public facilities grant/loan fund allocation from $65,100,000 to $69,100,000.

• Increases authorization for bonds under the Mississippi Major Economic Impact Act from $68,000,000 to $71,000,000 for military installation projects and extends the reverter date for bond sale provisions from June 30, 2018 to June 30, 2022.

• Authorizes issuance of $2,000,000 in general obligation bonds for the Mississippi Site Development Grant Fund to help eligible entities with site development improvements on publicly owned industrial property.

• Allows Mississippi Development Authority to reimburse up to 3% of bond proceeds for actual administrative costs related to projects funded through the bonds.