MS HB1272

Establishes the "Hometown Heroes Home Loan Guaranty Program" administered by the Department of Finance and Administration to provide loan guaranties for firefighters, law enforcement officers, registered nurses, and teachers purchasing primary residences.

Defines "eligible individuals" as those continuously employed in one or more of the qualifying professions for at least four years immediately preceding application for a loan guaranty.

Restricts loan guaranties to conventional financing for residential property that will serve as the applicant's primary home and for which the applicant certifies intent to file for homestead exemption under state law.

Creates the "Hometown Heroes Home Loan Guaranty Fund" as a separate special fund in the state treasury, with unexpended amounts not lapsing into the General Fund and investment earnings deposited back into the fund.

Empowers the Department of Finance and Administration to promulgate rules and regulations necessary for program implementation and to disburse funds upon legislative appropriation.

Effective July 1, 2024.