MS HB255

Establishes a Housing Repair Grant Program administered by the Department of Finance and Administration to provide grants up to $25,000 per household for significant home repairs

Eligibility requires at least 50% homeownership, age 62 or older (or Social Security disability), and annual income not exceeding $12,000 for single-person households or $16,000 for households of two or more

Creates the Mississippi Housing Repair Grant Fund in the State Treasury, with funds allocated among the four congressional districts proportionally based on the number of residents living below the federal poverty level in each district

Authorizes issuance of $50,000,000 in state general obligation bonds to fund the program, with bonds maturing no later than 25 years from date of issue

Bonds and income from them are exempt from all Mississippi state taxation and are backed by the full faith and credit of the state