MS SB2362

Amends Section 27-67-35 to exclude grant funds and loan funds from calculations of "base expenditures" when determining municipal eligibility for state infrastructure assistance funds.

Municipalities must have expended at least the amount of base expenditures (average annual expenditures from fiscal years 2013-2018, excluding highest and lowest years) during the previous fiscal year to receive full allocation of state road, bridge, water, and sewer improvement funds.

Base expenditures are adjusted annually beginning July 1, 2020, by the Consumer Price Index inflation rate for the previous calendar year as certified by the Department of Revenue.

State funds are distributed to municipalities semiannually (January and July) through a formula allocating $3,000,000 equally to all municipalities, with remainder split by population proportion and sales tax revenue proportion.

Effective date is July 1, 2020.