MS HB1594

Authorizes issuance of $10,000,000 in state general obligation bonds to fund a revolving loan program for small municipalities (population 25,000 or less).

Creates the "Small Municipalities Energy Efficiency/Deferred Maintenance Fund" in the state treasury to receive bond proceeds and loan repayments.

Establishes a revolving loan program administered by the Mississippi Development Authority with maximum loan amounts of $500,000 per municipality at an interest rate not to exceed 2% per annum.

Permits loans for repair, renovation, and upgrades to buildings, facilities, and infrastructure that improve energy efficiency or address deferred maintenance due to lack of funds.

Bonds must be issued by July 1, 2024, and allows MDA to reimburse up to 3% of bond proceeds for reasonable administration costs.