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MS HB965
Bill
Status
3/4/2025
Primary Sponsor
Fred Shanks
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AI Summary
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Extends the repealer date from July 1, 2025 to July 1, 2028 for the Mississippi Development Authority's authority to use interest earnings from the Local Governments Capital Improvements Revolving Loan Fund for ordinary and necessary general support expenses.
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Allows MDA to continue using interest derived from loan payments on taxable bonds (issued after January 1, 2002) for operational costs, excluding employee salary increases, through July 1, 2028.
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MDA may escalate its budget using these funds in accordance with Department of Finance and Administration rules, consistent with federal fund escalation procedures.
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Effective July 1, 2025.
Legislative Description
Local Governments Capital Improvements Revolving Loan Fund; extend repealer on MDA authority to use funds for general support.
Last Action
Died In Committee
3/4/2025