SB 2696 Summary

• Expands eligible recipients for the Mississippi Main Street Revitalization Grant Program to include Main Street Network Communities, Main Street Associate Communities, cities in Mississippi, and business improvement districts, in addition to Main Street Designated Communities.

• Prioritizes grant applications from entities that did not receive funding in the prior year for consideration in the following year.

• Reduces local matching fund requirements for municipalities with populations under 10,000 to 10% for the first $100,000 requested, then 20% for amounts exceeding $100,000; municipalities over 10,000 remain at 20% match requirement.

• Replaces perpetual easement requirements for historic properties with compliance with applicable state and federal laws and Mississippi Department of Archives and History regulations.

• Changes administrator duties regarding use of grant funds from using up to 2% for administrative expenses to providing the administrator with up to 2% for administrative costs; effective July 1, 2024.