MS HB1363

Revises the Mississippi Railroad Improvements Fund to specify that grants are available exclusively to short line railroads for repair, rehabilitation, construction, and improvement of railroad lines and related facilities.

Authorizes the Mississippi Development Authority (MDA) to establish a grant program for short line railroads to assist with costs associated with railroad infrastructure projects, including safety and structural integrity improvements.

Permits the MDA to reimburse up to 3% of general obligation bond proceeds for reasonable actual and necessary costs incurred in administering grants under the program.

Grants the MDA sole discretion in approving grant applications, establishing matching fund requirements, and determining grant terms and evaluation criteria.

Effective date: July 1, 2019.