MS SB2456

Creates a revolving loan program administered by the Mississippi Development Authority to provide loans to rural counties (population ≤30,000) and rural municipalities (population ≤10,000) for emergency infrastructure repair, maintenance, construction, and improvements.

Establishes the "Rural Counties and Municipalities Emergency Infrastructure Improvements Fund" in the State Treasury to hold loan funds, with unexpended amounts and repayments remaining in the fund rather than lapsing to the General Fund.

Authorizes issuance of up to $10,000,000 in state general obligation bonds to fund the loan program, with bonds not to be issued after July 1, 2027.

Sets maximum loan amount at $250,000 per applicant and maximum loan term at 5 years, with the State Bond Commission responsible for issuing and selling authorized bonds.

Bonds issued are full faith and credit obligations of the State of Mississippi, exempt from state taxation, and mature within 25 years from date of issue.