MS HB143

Establishes a grant program administered by the Mississippi Development Authority to assist businesses in providing and expanding cellular and broadband access in rural counties (population 30,000 or less) and rural municipalities (population 10,000 or less).

Creates the "Rural Counties and Municipalities Cellular and Broadband Fund" in the state treasury to hold grant funds, with unexpended amounts not lapsing at fiscal year end and investment earnings deposited to the fund.

Limits individual grants to a maximum of 25% of project costs, with businesses required to submit applications detailing project description, costs, and requested grant amount.

Authorizes issuance of up to $15,000,000 in state general obligation bonds by the State Bond Commission to fund the grant program, with no bonds issued after July 1, 2024.

Bonds mature within 25 years, are exempt from state taxation, are backed by the full faith and credit of the state, and proceeds are disbursed solely under order of the Mississippi Development Authority.