MS SB3166

Authorizes issuance of up to $750 million in state general obligation bonds to fund the Department of Environmental Quality's administration of the Mississippi Water Infrastructure Grant Program Act of 2022

Creates the "2022 Water Infrastructure Grant Program Act Administration Fund" to provide reimbursable grants to municipalities, counties, rural water associations, and utility authorities for drinking water, wastewater, and stormwater infrastructure projects

Bonds must be issued by July 1, 2026 and cannot exceed 25-year maturity terms, with interest rates subject to existing state limits

Amends the Working Cash-Stabilization Reserve Fund to cap the balance requirement at $1 billion instead of the previous 10% of General Fund appropriations threshold

Bonds and income from bonds are exempt from all Mississippi state taxation and constitute general obligations backed by the full faith and credit of the state