MS HB713

Extends the repeal date of Section 57-1-303(1)(a)(ii) from July 1, 2019, to July 1, 2022, allowing the Mississippi Development Authority to continue using interest earned on taxable bond loans for ordinary and necessary general operating expenses.

Prohibits the Mississippi Development Authority from using these interest funds for employee salary increases.

The authority must escalate its budget and expend such monies in accordance with Department of Finance and Administration rules in a manner consistent with federal fund escalation.

Takes effect July 1, 2019.