MS HB1012

Authorizes the issuance of state general obligation bonds not to exceed $1,000,000 to assist the City of Jackson with acquisition, removal, and demolition of dilapidated and blighted properties.

Eligible properties must be located in close proximity to state grounds and lands specified in Mississippi Code Sections 29-5-2(a)(i) and 29-5-81(a), or within or near the Farish Street Historic District in Jackson.

Creates the "2025 City of Jackson Dilapidated and Blighted Properties Improvements Fund" as a special fund within the State Treasury, with unexpended amounts not lapsing and interest earnings deposited back into the fund.

Grants the State Bond Commission authority to determine bond terms including interest rates (not exceeding statutory limits), maturity dates (up to 25 years), and method of sale, with proceeds transferred to the special fund.

No bonds shall be issued under this act after July 1, 2029; any remaining fund amounts after project completion shall be applied to pay debt service on the issued bonds.