MS SB3054

Transfers $65,000,000 from Budget Contingency Fund to Mississippi Electric Cooperatives Broadband COVID-19 Grant Program Fund and $10,000,000 to COVID-19 Broadband Provider Grant Program Fund.

Establishes Public Utilities Application Fund to receive application fees (0.5% of grant amount requested) for administration expenses, with fees previously deposited to Public Utilities Staff Regulation Fund transferred to new fund.

Authorizes electric cooperatives to submit tertiary applications for additional grants from the Mississippi Electric Cooperatives Broadband COVID-19 Grant Program Fund with no maximum amount, following secondary application process.

Requires applicants to match grant funds dollar-for-dollar with non-grant funds (excluding certain federal grants but including loans), with primary applications capped at $6,000,000 and secondary/tertiary applications having no maximum.

Establishes application deadlines (primary by July 17, secondary by July 29, tertiary by September 4, 2020) and requires monthly project status reports and compliance monitoring by Mississippi Public Utilities Staff, with noncompliant applicants required to refund grant monies.