MS HB129

Creates the "Rural Counties and Municipalities Cellular and Broadband Fund" to provide grants to businesses for expanding cellular and broadband access in rural areas (counties with 30,000 or fewer residents and municipalities with 10,000 or fewer residents)

Authorizes issuance of $15,000,000 in state general obligation bonds to fund the grant program, with bonds prohibited from being issued after July 1, 2027

Limits grants to a maximum of 25% of the total project cost for cellular and broadband expansion projects

Mississippi Development Authority will administer the grant program and establish rules for application and implementation

Bonds mature within 25 years, are tax-exempt in Mississippi, and are backed by the full faith and credit of the state