Senate Bill 2525 Summary

• Creates the Forestry Facility Grant Program Fund with a $10,000,000 initial investment to be administered by the Mississippi Development Authority for utility, infrastructure, and transportation projects related to forestry facilities.

• Eligible applicants include municipalities, county governments, existing forestry product facilities, and regional economic development entities; projects must have a minimum $10,000,000 investment and utilize at least 50 acres of land under public control.

• Grant awards shall not exceed 75% of total infrastructure project costs and eligible expenses include land acquisition, power lines, gas lines, water systems, sewage systems, roads, railroads, and other infrastructure necessary for project completion.

• Applicants must submit proposals to MDA by December 1 annually; a committee consisting of the MDA Executive Director, economic development officials, and Governor/Lieutenant Governor appointees reviews and approves recipients beginning July 1, 2024.

• MDA may use no more than 2% of awarded funds for administrative expenses and may enter cooperative agreements with forestry mills, forestry-related companies, state/local agencies, and nonprofit economic development organizations.