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MS SB2760
Bill
AI Summary
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Increases the maximum loan amount from the Emerging Crops Fund to any one borrower for minority economic development from $250,000 to $1,000,000.
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Extends the program period for loans and grants to qualified entities for minority economic development from June 30, 2010 through June 30, 2026 (reactivating the program from July 1, 2022 through June 30, 2026).
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Maintains the $29,000,000 aggregate cap on total monies loaned or granted from the Emerging Crops Fund for minority economic development programs.
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Applies to planning and development districts and qualified entities including small business investment corporations, community development corporations, and other Mississippi-based economic development organizations.
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Takes effect July 1, 2022.
Legislative Description
Emerging Crops Fund; increase amount that may be loaned to any one borrower to assist in financing minority economic development.
Last Action
Died In Committee
2/1/2022