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MS SB2857
Bill
AI Summary
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Removes calculations of average annual expenditures (base expenditures) that municipalities must maintain to be eligible for infrastructure assistance funds from the special fund.
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Changes eligibility requirement effective July 1, 2023 so municipalities can receive a maximum distribution amount equal to municipal funds they expended in the previous fiscal year for road, bridge, water, and sewer infrastructure purposes.
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Excludes bond proceeds for road, street, and bridge repairs from the calculation of municipal funds expended when determining maximum distribution amounts.
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Places municipalities under the same distribution restrictions as counties regarding maximum fund distributions based on prior year expenditures.
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Takes effect July 1, 2023.
Legislative Description
Use tax; revise standards for municipality's eligibility to receive monies from special fund for infrastructure assistance.
Last Action
Died In Committee
1/31/2023