MS SB3026

Increases the Department of Finance and Administration's borrowing authority for Capitol Complex Improvement District projects from $7,000,000 to $14,000,000, with debt to be secured by sales and use tax revenue.

Directs a percentage of monthly use tax revenue to the Capitol Complex Improvement District Project Fund, beginning August 15, 2020: 2% through August 14, 2021, increasing to 4% through August 14, 2022, then 6% thereafter, each amount multiplied by the percentage of Mississippi's population residing in Jackson.

Allows debt incurred for Capitol Complex improvement projects to be secured by both sales tax and use tax revenue deposited to the project fund.

Designates at least 85% of deposited funds for improvement projects within the district per the comprehensive plan, with up to 5% for department costs and up to 10% for Jackson police and fire protection compensation.