MS HB543

Creates a "Rural Counties and Municipalities Cellular and Broadband Fund" in the State Treasury to be administered by the Mississippi Development Authority (MDA).

Establishes a grant program for businesses to assist with costs of providing and expanding cellular and broadband access in rural counties (population 30,000 or less) and rural municipalities (population 10,000 or less), with maximum grant amounts of 25% of project costs.

Authorizes issuance of $15,000,000 in state general obligation bonds to fund the grant program, with bonds to be issued by July 1, 2029 and maturing no later than 25 years from issuance date.

Directs investment earnings on fund deposits to be used for bond debt service, and specifies that unexpended fund amounts do not lapse at fiscal year-end.

Takes effect July 1, 2025.