HB 1894 Summary

• Authorizes $126.2 million in state general obligation bonds for capital improvements at Mississippi institutions of higher learning, with funds allocated to specific universities for facility repairs, renovations, and construction projects.

• Authorizes $45 million in bonds for community and junior college capital improvements, with allocation amounts specified for each of the 15 community and junior colleges in Mississippi.

• Authorizes $120 million in bonds for state agency capital improvements, including $35 million for Department of Corrections facilities, $35 million for Department of Finance and Administration projects, and $25 million for Department of Mental Health facilities.

• Increases maximum bond issuance amounts under various economic development programs: $20 million for Mississippi Site Development Grant Fund, $10 million for ACE Fund, $25 million for Mississippi Business Investment Act, and $20 million additional for Port and Airport Revitalization Loan Fund.

• Terminates or restricts various tax credits and exemptions effective July 1, 2025, including credits for alternative energy projects, headquarters relocation, and sales tax exemptions for construction and equipment in certain economic development areas.