MS SB2023

Creates a "Property Cleanup Revolving Fund" administered by the Mississippi Home Corporation to assist municipalities in cleaning up properties determined to be a public health, safety, or welfare menace under Section 21-19-11 or by court order.

Establishes a grant program (limited to 20% of annual fund balance) and revolving loan program with loans available at or below market rates, repayable over up to 20 years, with repayment secured by municipal sales tax reimbursements, homestead exemption reimbursements, or proceeds from property sales.

Restricts grants to municipalities with populations under 10,000 (per latest census), limiting each municipality to one grant per fiscal year, with municipalities required to repay the fund from property sale proceeds.

Authorizes issuance of up to $5,000,000 in general obligation state bonds to fund the revolving fund, with bond proceeds dedicated solely to property cleanup projects and all bond proceeds exempted from state taxation.

Takes effect July 1, 2025, with loan and grant programs commencing after that date and all state bonds required to be issued by July 1, 2026.