MS HB505

Establishes the Mississippi Broadband Accessibility Act and creates a grant program administered by the Director of Mississippi Public Utilities Staff to fund broadband deployment in unserved rural areas.

Defines unserved areas as rural regions without broadband service meeting a minimum threshold of 25 Mbps download and 3 Mbps upload speeds, and specifies eligible grant recipients as cooperatives, corporations, LLCs, partnerships, and other private business entities.

Limits individual grants to the lesser of 35% of project costs or $1.5 million, with requirements that at least 40% of appropriated funds serve unincorporated areas and grants must be completed within two years.

Prioritizes grant awards to projects leveraging private investment, demonstrating community support, showing technical capability, being cost-effective, serving rural hospitals and libraries, and achieving consideration for Disadvantaged Business Enterprise applicants.

Creates the Mississippi Broadband Accessibility Fund as a special state treasury fund subject to legislative appropriation, with administrative costs capped at 7% of annual appropriations or $750,000, whichever is less.