Senate Bill 2981 Summary

• Authorizes issuance of state general obligation bonds totaling up to $25,000,000 to fund the Mississippi Community Heritage Preservation Grant Fund, with a maximum of $5,000,000 issued per fiscal year and no bonds issued after July 1, 2024.

• Bonds are general obligations of the State of Mississippi backed by full faith and credit; principal and interest payable from state funds, with terms up to 25 years and interest rates subject to existing statutory limits.

• Fund allocates grants through the Department of Finance and Administration based on Board of Trustees recommendations for preservation, restoration, and rehabilitation of historic courthouses, school buildings, and other historic properties identified by certified local governments.

• Designates specific grant amounts to individual municipalities and organizations including Amory Regional Museum ($250,000), Jacinto Foundation ($100,000), Columbus City Hall ($975,000), Wesson Old School ($1,000,000), and others for capital improvements and restoration projects.

• Requires all projects receiving funds to be designated as "Mississippi Landmark" properties (except certain specified projects) and follow Secretary of Interior standards for historic preservation; unused bond proceeds must be accounted for if not expended within four years.