MS SB2359

Creates the Mississippi Main Street Revitalization Grant Program to provide grants to Main Street Designated Communities for downtown revitalization projects, with the Mississippi Main Street Association prioritizing applications and submitting recommendations to the Legislature by December 1 each year.

Establishes eligibility requirements including good standing with MMSA, 501(c)(3) or 501(c)(6) tax-exempt status, and 20% local cash match (10% for communities under 10,000 population on first $100,000), with communities ineligible if they received funding the previous year.

Limits grants to $500,000 per community annually on a reimbursement basis for eligible costs including land acquisition, historic structure preservation, and economic revitalization initiatives in historic downtown areas.

Creates the "Mississippi Main Street Revitalization Grant Program Fund" as a special state treasury fund, allows issuance of state general obligation bonds for funding, and authorizes the Mississippi Development Authority to administer the program with up to 2% of deposited funds for administrative expenses.

Requires grantees to grant perpetual easements to the Mississippi Department of Archives and History or other qualified holder to ensure permanent preservation of historic downtown properties, and mandates compliance with state procedures and audit requirements.