MS HB608

Establishes a Local Governments MSWIN Infrastructure and Equipment Revolving Loan Program administered by the Mississippi Development Authority to assist counties and municipalities in purchasing equipment and infrastructure needed to participate in the Mississippi Wireless Information Network.

Defines eligible "MSWIN participation purchases" as network infrastructure (repeaters, antennas, microwave backhaul, etc. with 15-20 year useful life) and subscriber equipment (radios, tablets, modems, etc. with 5-7 year useful life), including installation and maintenance costs.

Creates the "Local Governments MSWIN Infrastructure and Equipment Revolving Loan Fund" in the state treasury with loan interest rates set at the lesser of 2% per annum or the true interest cost on the most recent state general obligation bond issue.

Counties must pledge homestead exemption tax loss reimbursements and municipalities must pledge sales tax revenues to secure loan repayment, with loans repaid within the maximum useful life of equipment purchased.

Authorizes issuance of up to $20,000,000 in state general obligation bonds to fund the revolving loan program, with proceeds held in the special fund and distributed by the Mississippi Development Authority for eligible MSWIN purchases.