MS SB2341

Establishes a revolving loan program administered by the Mississippi Development Authority to provide loans to rural counties (population ≤30,000) and rural municipalities (population ≤10,000) for emergency infrastructure repair, maintenance, construction, reconstruction, upgrades, and improvements.

Creates the "Rural Counties and Municipalities Emergency Infrastructure Improvements Fund" in the state treasury to hold loan funds, with repayments and investment earnings remaining in the fund rather than lapsing to the general fund.

Authorizes issuance of up to $10,000,000 in state general obligation bonds to fund the loan program, with bond issuance authority expiring July 1, 2024.

Sets maximum loan amount at $250,000 per applicant with a maximum term of five years, requiring applicants to submit project descriptions, costs, and loan amounts to the MDA.

Bonds issued are general obligations of Mississippi backed by the full faith and credit of the state, are exempt from state taxation, and mature within 25 years from issuance.