MS SB2856

Expands the definition of "capital improvements" in the Local Governments Capital Improvements Revolving Loan Program to include any project determined to be a capital improvement by the Mississippi Development Authority (MDA).

Extends the repealer date for MDA's authority to use certain interest revenues from the Local Governments Capital Improvements Revolving Loan Fund for general MDA operations from July 1, 2025, to July 1, 2029.

Maintains existing loan program requirements, including interest rates (2-3% for tax-exempt projects, true interest cost for other projects), maximum loan terms of 20 years, and repayment pledges from homestead exemptions and sales tax revenues.

Effective July 1, 2025.