MS HB23

Amends Section 21-33-303 of Mississippi Code to exclude certain loan indebtedness from a municipality's bonded and general obligation debt calculations.

Exempts indebtedness incurred through loans to municipalities under Section 57-75-11(tt) for projects defined in Section 57-75-5(f)(xxvii) (Mississippi Major Economic Impact Act projects) from debt limitation requirements.

Municipalities are otherwise limited to 15% of assessed taxable property value (or 10% of 1984 assessment baseline, whichever is greater) for bonded indebtedness and 20% of assessed value (or 15% of 1984 baseline) for all general obligation indebtedness.

Effective upon passage.