MS HB1007

Authorizes issuance of up to $550,000 in Mississippi state general obligation bonds to assist the City of Gulfport with removing blighted properties in the western part of the city

Creates the "2026 City of Gulfport Blighted Properties Fund" as a special fund within the State Treasury, with unexpended amounts and investment earnings remaining in the fund rather than lapsing to the General Fund

Bonds may mature up to 25 years from date of issue and are backed by the full faith and credit of the State of Mississippi

Bonds and income from them are exempt from all state taxation and qualify as legal investments for trustees, fiduciaries, savings banks, trust companies, and insurance companies

No bonds may be issued under this act after July 1, 2030, with an effective date of July 1, 2026