MS HB692

Creates the "Municipalities and Counties Trails Fund" in the State Treasury to provide grants to local governments for establishing, developing, and promoting trails including bicycle, hiking, horse riding, nature, rail, walking, water, and ATV trails

Authorizes the Mississippi Development Authority (MDA) to administer the grant program, with a maximum grant amount of $50,000 per municipality or county

Authorizes issuance of up to $1,000,000 in state general obligation bonds to fund the program, with no bonds to be issued after July 1, 2026

Bonds may mature up to 25 years from date of issue and are exempt from all Mississippi state taxation

Requires MDA to submit an annual report to the Governor and Legislature by December 1 each year detailing all assistance provided under the program