MS HB438

Establishes a housing repair grant program administered by the Department of Finance and Administration to provide grants to low-income individuals for significant home repairs, with maximum grant of $25,000 per household.

Requires applicants to be at least 62 years old or disabled, own at least 50% of their primary residence, and have annual income not exceeding $12,000 (single person) or $16,000 (two or more persons).

Creates the "Mississippi Housing Repair Grant Fund" in the state treasury and allocates funds among the four congressional districts proportionally based on the number of persons below the federal poverty level in each district.

Authorizes issuance of $50,000,000 in state general obligation bonds to fund the program, with bonds maturing within 25 years and bearing interest rates compliant with Mississippi Code Section 75-17-101.

Takes effect July 1, 2025.