MS HB1164

Updates citations to federal law in Mississippi Code Section 57-10-601, changing references from "Public Law 111-240" to "12 USC 5701 et seq. as amended"

Confirms the Mississippi Development Authority (MDA) as the designated agency to implement and participate in the federal State Small Business Credit Initiative established under the State Small Business Credit Initiative Act of 2010

Authorizes MDA to take necessary actions to establish a state program meeting federal requirements and to administer funds transferred to the state under the federal act

Changes the Executive Director's rulemaking authority from permissive ("is authorized and empowered to") to mandatory ("shall") for promulgating regulations to carry out the section

Adds gender-neutral language ("he or she") to the provision regarding the Executive Director's rulemaking authority