MS SB2220

Creates a revolving loan program administered by the Mississippi Development Authority to provide emergency infrastructure loans to rural counties (population ≤30,000) and rural municipalities (population ≤10,000).

Establishes the "Rural Counties and Municipalities Emergency Infrastructure Improvements Fund" in the state treasury to fund loans for emergency repair, maintenance, construction, reconstruction, upgrades, and improvements to infrastructure projects.

Authorizes issuance of up to $10,000,000 in state general obligation bonds to capitalize the fund, with bonds issued no later than July 1, 2028 and maturing within 25 years.

Sets maximum loan amount of $250,000 per applicant with maximum term of 5 years; requires applicants to submit detailed project descriptions and cost information to the MDA.

Pledges the full faith and credit of the State of Mississippi to repay bonds; bonds are tax-exempt and constitute legal investments for trustees, fiduciaries, and financial institutions.