MS HB868

Establishes the "Property Cleanup Revolving Fund" administered by the Mississippi Home Corporation to assist municipalities in cleaning up properties determined to be a menace to public health, safety, and welfare under Section 21-19-11 or by court order.

Creates a grant program (limited to 20% of annual fund balance) for municipalities with populations under 10,000, with maximum one grant per municipality per fiscal year, requiring reimbursement from sale proceeds of cleaned properties.

Authorizes a loan program offering below-market interest rates with repayment periods up to 20 years, secured by municipal sales tax reimbursements, homestead exemption tax loss reimbursements, or proceeds from property sales.

Permits the State Bond Commission to issue up to $5,000,000 in general obligation bonds by July 1, 2027, with proceeds deposited into the revolving fund; all principal and interest on bonds backed by full faith and credit of the state.

Authorizes municipalities to issue municipal securities and enter agreements necessary to participate in the program without requiring notice of intent or compliance with standard municipal debt limitations.