MS SB2772

Amends Mississippi Code Section 57-10-601 to update federal law citations from Public Law 111-240 to 12 USC 5701 et seq. as amended in references to the State Small Business Credit Initiative Act of 2010.

Designates the Mississippi Development Authority (MDA) as the agency to implement Mississippi's state program and participate in the federal State Small Business Credit Initiative.

Authorizes the MDA to take necessary actions to establish and implement a state program meeting all requirements of the State Small Business Credit Initiative Act of 2010.

Authorizes the MDA to administer funds transferred to Mississippi under the federal act.

Changes the Executive Director of MDA's authority from discretionary ("is authorized and empowered to") to mandatory ("shall") regarding promulgation of rules and regulations for implementing this section, and updates language to be gender-neutral.