MS HB1987

Establishes a loan program administered by the Department of Finance and Administration to provide loans to the Capital City Redevelopment Foundation for acquisition and development of tax-forfeited and city-owned property within the Capitol Complex Improvement District.

Requires the foundation to submit applications with detailed development plans including property descriptions, projected timelines, funding sources, and loan amounts requested.

Creates the "Capitol Complex Improvement District Property Improvement Loan Fund" as a special state treasury fund to disburse loans, with repaid loan amounts and investment earnings deposited back into the fund.

Authorizes the State Bond Commission to issue up to $2,000,000 in general obligation bonds to fund the loan program, with bonds maturing within 25 years and backed by the full faith and credit of the State.

Takes effect July 1, 2024.