MS HB1496

Authorizes the City of Jackson to issue general obligation bonds to fund acquiring, constructing, repairing, and improving the city's drinking water, wastewater, and stormwater systems infrastructure

Requires voter approval of a 1% special sales tax on all sales and services within the city to secure bond payments, with the tax collected by the Mississippi Department of Revenue

Bonds may be issued for up to 40 years and are exempt from state taxation except inheritance and gift taxes; they do not count toward the city's legal debt limits

Declares a water infrastructure crisis exists in Jackson, citing deferred maintenance, a shrinking tax base, flooding, the 2021 winter storm, and ongoing federal and state environmental compliance evaluations

Prohibits any member of the Legislature, elected officials, appointed officials, or their partners from deriving income from the bond issuance