MS HB249

Creates the Housing Loan Assistance Pilot Program administered by the Mississippi Development Authority to provide 1% interest rate loans for home repair or new construction to qualifying low-income residents

Eligibility requires residing in one of Mississippi's 10 poorest counties, being at least 65 years old or disabled or employed for 2 years, owning the property, having household income under $30,000, and being unable to obtain conventional financing

Authorizes issuance of $3,000,000 in state general obligation bonds with a maximum maturity of 25 years to fund the program

Adds a $3.00 fee to recording deeds and a $3.00 fee to recording deeds of trust with chancery clerks, with proceeds deposited into the Housing Loan Assistance Bond Sinking Fund to pay bond principal and interest

Takes effect July 1, 2026