MS HB1015

Establishes the "Property Clean-up Revolving Fund" administered by the Mississippi Department of Environmental Quality to provide loans to municipalities for cleaning up properties deemed a menace to public health, safety, and welfare under Section 21-19-11.

Loans may cover up to 100% of estimated cleanup costs at or below market interest rates, with repayment beginning no later than one year after the loan date and all funds repaid within 10 years.

Municipalities may pledge sales tax reimbursement, homestead exemption tax loss reimbursement, and proceeds from property sales to secure loan repayment, with the Department of Revenue transferring amounts monthly to the revolving fund.

Authorizes issuance of up to $2,000,000 in state general obligation bonds by July 1, 2025, with proceeds deposited into the revolving fund; bond principal and interest payable from state funds if legislative appropriations are insufficient.

Municipalities may issue municipal securities (bonds, notes, or lines of credit) to evidence loans without notice requirements or compliance with general debt limitations, with governing bodies adopting necessary resolutions to authorize borrowing and issuance.