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MS SB2189
Bill
AI Summary
- Creates a revolving loan program administered by the Mississippi Development Authority to provide emergency infrastructure loans to rural counties (population ≤30,000) and rural municipalities (population ≤10,000)
- Establishes the "Rural Counties and Municipalities Emergency Infrastructure Improvements Fund" in the state treasury to fund loans for emergency repair, maintenance, construction, reconstruction, and upgrades of infrastructure projects
- Sets maximum loan amount at $250,000 per applicant with a maximum term of 5 years; loan repayments return to the fund
- Authorizes issuance of $10,000,000 in state general obligation bonds to fund the program, with no bonds to be issued after July 1, 2026
- Bonds mature within 25 years, are backed by the full faith and credit of Mississippi, and their income is exempt from state taxation; proceeds used only for program purposes and issuance costs
Legislative Description
Bonds; create a rural counties and municipalities emergency infrastructure loan program and authorize issuance of bonds.
Last Action
Died In Committee
2/1/2022
Committee Referrals
Finance1/13/2022
Full Bill Text
No bill text available