MS HB111

Creates the Housing Loan Assistance Pilot Program administered by the Mississippi Development Authority to provide 1% interest loans for home repair or new construction to residents of the state's 10 poorest counties

Loan eligibility requires applicants to be at least 65 years old, legally disabled, or employed for 2 years; own the property; have household income not exceeding $30,000 annually; and have been rejected for conventional financing in the past 12 months

Authorizes issuance of $3,000,000 in state general obligation bonds with a maximum 25-year maturity to fund the program

Adds a $3.00 fee to recording deeds and a $3.00 fee to recording deeds of trust, with proceeds deposited into the Housing Loan Assistance Bond Sinking Fund to pay bond debt service

Chancery clerks must remit the new fees to the Mississippi Development Authority with detailed accounting of transactions