MS SB2272

Revises procedures for Mississippi Development Authority (MDA) to use up to 3% of bond proceeds across multiple funds and programs for administrative costs, rather than limiting reimbursement to specific individual projects or programs.

Allows MDA to apply administrative cost reimbursements across various grant, loan, and financial incentive programs it administers, eliminating previous restrictions that prevented cross-program cost allocation.

Increases borrowing authority under Section 57-61-25 from $362.5 million to $382.5 million for general obligation bonds.

Applies the expanded reimbursement authority to 11 different MDA programs including ACE Fund, Small Municipalities Fund, Industry Incentive Fund, Site Development Fund, Railroad Improvements Fund, and others.

Effective July 1, 2019.